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Pfizer in talks on $5 billion acquisition: media

A man walks past the Pfizer logo on the drug maker's headquarters in New York
A guy walks at night Pfizer logo on the drug maker’s headquarters in NY.

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 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 greater than $4 billion.

Pfizer shares slipped by 1.18 percent, to $49.27.

2022 AFP

Citation: Pfizer in talks on $5 billion acquisition: media (2022, August 7) retrieved 8 August 2022 from

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