American drugmaker Pfizer is near a deal to get Global Blood Therapeutics, which manufactures a recently approved drug against sickle-cell anemia, for $5 billion, the Wall Street Journal has reported.
Pfizer, among the top makers of COVID-19 vaccines, hopes to summarize talks with GBT within days, the newspaper said Friday, citing people near to the negotiations.
Nonetheless it said other takeover candidates stay in the running.
GBT’s sickle-cell treatment, marketed as Oxbryta, was authorized for all those over 12 yrs . old in 2019 but gained federal approval in December for children aged four to 11. The blood disorder affects millions.
Sales of Oxbryta helped the laboratory generate first-quarter turnover of $55 million (up 41 percent), as the company registered a net lack of $81.4 million.
GBT, that is based in SAN FRANCISCO BAY AREA, California, would be to publish its second-quarter numbers on Monday.
Pfizer, because of its part, saw its second-quarter turnover jump by 47 percentto an archive $27.74 billionboosted by sales of its COVID vaccine and pills.
Its net profit soared by 78 percent, to $9.9 billion.
GBT shares on the brand new York STOCK MARKET were up 33.03 percent at the close on Friday, at $63.84, for a market capitalization greater than $4 billion.
Pfizer shares slipped by 1.18 percent, to $49.27.
Citation: Pfizer in talks on $5 billion acquisition: media (2022, August 7) retrieved 8 August 2022 from https://medicalxpress.com/news/2022-08-pfizer-billion-acquisition-media.html
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