Pfizer Announces , $5.4 Billion Deal , to Acquire Global Blood Therapeutics.
Pfizer has announced a $5.4 billion deal
for the blood disorder drugmaker.
NBC reports that the news marks the latest
attempt by Pfizer to combat declining demand
for COVID-19 products as case numbers fall.
The company has seen an unprecedented
rise in sales since the global rollout
of its COVID-19 vaccine.
However, sales have begun to slow
since the height of the pandemic.
NBC reports that Pfizer is now seeking
acquisitions that have the potential to boost
sales by billions by the end of the decade.
In May, Pfizer acquired migraine drugmaker
Biohaven Pharmaceutical Holding for $11.6 billion.
The company also recently
completed a $6.7 billion deal
to purchase Arena Pharmaceuticals.
According to NBC, the acquisition
of Global Blood Therapeutics would allow
Pfizer to boost sales of Oxybryta.
In 2019, Oxybryta was first approved
as a treatment for Sickle Cell Disease. .
An estimated 70,000 to 100,000 people in
the United States are affected by Sickle Cell
Disease, which is an inherited blood disorder.
Following the announcement of the deal,
shares of Global Blood rose 4.5%.