Pfizer, Global Blood Therapeutics In Advanced Talks For $5B Buyout Deal: Report

  • Pfizer Inc PFE is reportedly in advanced talks to buy Global Blood Therapeutics Inc GBT for about $5 billion, bolster its portfolio and pipeline.
  • Global Blood Therapeutics markets sickle-cell disease treatment, Oxbryta, which generated $194.7 million in revenue in 2021.
  • Wall Street Journal says that Pfizer aims to seal a deal for GBT in the coming days, citing people familiar with the matter.
  • Some people said the situation is still fluid, and other suitors are still in the mix. 
  • GBT announces its second-quarter results Monday.
  • Bloomberg reported earlier this week that some large pharmaceutical companies are looking into a potential deal. Global Blood Therapeutics is reportedly working with advisors to evaluate potential takeover offers. 
  • At its current share price of $52.58, GBT has an enterprise value of $3.2 billion.
  • Price Action: GBT shares are trading 41.1% higher during the market session on the last check Friday.

Posted In: Briefswhy it's movingBiotechLarge CapM&ANewsHealth CareRumorsMoversTrading IdeasGeneral

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