Pfizer Completes Acquisition of Global Blood Therapeutics for $5.4 Billion
Pfizer Inc. announced the completion of its acquisition of Global Blood Therapeutics (GBT) for approximately $5.4 billion in cash. The deal enhances Pfizer's portfolio in rare hematology, particularly for sickle cell disease (SCD).
New York – Pfizer Inc. (NYSE: PFE) announced on October 5, 2022, the completion of its acquisition of Global Blood Therapeutics, Inc. (GBT), a biopharmaceutical company focused on sickle cell disease (SCD). The transaction is valued at approximately $5.4 billion in cash.
The acquisition brings GBT's product portfolio and pipeline to Pfizer, including the first-in-class medicine Oxbryta® (voxelotor), which targets the underlying cause of SCD. GBT's pipeline also includes promising investigational assets such as GBT021601 and inclacumab, both of which have received Orphan Drug and Rare Pediatric Disease designations from the U.S. Food and Drug Administration (FDA).
Sickle cell disease is a debilitating inherited blood disorder affecting millions globally, with a higher prevalence in populations of African, Middle Eastern, and South Asian descent. Pfizer aims to accelerate the development and delivery of transformative treatments for these underserved patients.
Following the acquisition, GBT's shares have ceased trading on the NASDAQ Global Select Market. Pfizer stated its commitment to continuing engagement with the SCD community and advancing research in the field.