Pfizer in talks on $5B buyout of pharma with sickle-cell anemia treatment

GBT’s sickle-cell treatment, marketed as Oxbryta, was authorized for those over 12 years old in 2019, but gained federal approval in December for children aged four to 11

(FILES) This file photo illustration picture shows vials with Covid-19 Vaccine stickers attached, with the logo of US pharmaceutical company Pfizer, on November 17, 2020. – Pfizer sharply increased its 2021 projection for revenues tied to its Covid-19 vaccine on July 28, 2021, forecasting the delivery of 500 million more doses compared with earlier expectations. The US drugmaker, which has partnered with Germany’s BioNTech on the vaccine, estimates delivering 2.1 billion doses, generating $33.5 billion in sales. The company’s May forecast was for $26 billion in sales. (Photo by JUSTIN TALLIS / AFP)

American drugmaker Pfizer is close to a deal to purchase Global Blood Therapeutics (GBT), which manufactures a recently approved drug against sickle-cell anemia, for $5 billion, the Wall Street Journal has reported.

Pfizer, one of the top makers of Covid-19 vaccines, hopes to conclude talks with GBT within days, the newspaper said Friday, citing people close to the negotiations.

But it said other takeover candidates remain in the running.

GBT’s sickle-cell treatment, marketed as Oxbryta, was authorized for those over 12 years 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 a first-quarter turnover of $55 million (up 41 percent), while the company registered a net loss of $81.4 million.

GBT, which is based in San Francisco, California, is to publish its second-quarter numbers on 8 August.

Pfizer, for its part, saw its second-quarter turnover jump by 47 percent — to a record $27.74 billion — boosted by sales of its Covid vaccine and pills.

Its net profit soared by 78 percent, to $9.9 billion.

GBT shares on the New York Stock Exchange were up 33.03 percent at the close on 5 August at $63.84, for a market capitalization of more than $4 billion.

Pfizer shares slipped by 1.18 percent, to $49.27.


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