Pfizer to buy Global Blood Therapeutics for $5.4B

Aug. 8, 2022

Pfizer will acquire blood disorder drugmaker Global Blood Therapeutics, giving Pfizer access to GBT's sickle cell disease portfolio and pipeline with the potential for worldwide peak sales of more than $3 billion.

Under the terms of the deal, Pfizer will acquire all the outstanding shares of GBT for $68.50 per share in cash, for a total value of approximately $5.4 billion. The Board of Directors of both companies have unanimously approved the transaction.

Key to the deal is San Francisco-based GBT's Oxbryta, first approved by the FDA in Nov. 2019 to treat sickle cell disease. The first-in-class medicine is also approved in the EU, United Arab Emirates, Oman and Great Britain.

Pfizer will also snatch up GBT's promising pipeline, including GBT601, an oral, once-daily, next-generation sickle hemoglobin (HbS) polymerization inhibitor in the phase 2 portion of a phase 2/3 clinical study. Also in the pipeline is inclacumab, a mAb targeting P-selectin which is being evaluated in two phase 3 trials as a potential quarterly treatment to reduce the frequency of vaso-occlusive crisis — a painful complication of sickle cell disease.

The deal is the latest in an acquisitions spending spree for Pfizer. Back in May, Pfizer paid $11.6 billion for migraine drugmaker Biohaven Pharmaceutical, following a $6.7 billion deal to buy San Diego biotech Arena Pharmaceuticals in late 2021.