Pfizer is buying sickle cell drug maker Global Blood Therapeutics in a roughly $5.4 billion deal as it aims to accelerate growth after its revenue soared during the pandemic.
GBT is the developer of Oxbryta tablets, which directly target the root cause of sickle cell disease. Oxbryta’s sales were about $195 million last year.
Pfizer will pay $68.50 per share in cash for each GBT share.
The boards of both companies have approved the deal, which still needs regulatory approval and GBT shareholder approval.