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Pfizer buying spree continues with $5.4B hematology deal

Added 08-08-22 09:03:01am EST - “Pfizer will spend about $5.4 billion to buy Global Blood Therapeutics as the pharmaceutical giant continues to invest some of the cash influx reaped during the COVID-19 pandemic.” - Washingtontimes.com

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Posted By TheNewsCommenter: From Washingtontimes.com: “Pfizer buying spree continues with $5.4B hematology deal”. Below is an excerpt from the article.

Pfizer will spend about $5.4 billion to buy Global Blood Therapeutics as the pharmaceutical giant continues to invest some of the cash influx reaped during the COVID-19 pandemic.

Pfizer said Monday that the acquisition will boost its capabilities in rare hematology. Global Therapeutics makes Oxybryta tablets for treating sickle cell disease. Oxbryta sales were about $195 million last year.

The latest deal follows Pfizer’s $11.6 billion acquisition of Biohaven, which the companies announced in May, and a $6.7 billion acquisition of Arena Pharmaceuticals announced last December.

Pfizer also announced in April a smaller acquisition to buy the privately held ReViral Ltd., which is developing a treatment for respiratory syncytial virus.

Pfizer Inc.’s top-selling COVID-19 vaccine and treatment have left the New York City drugmaker flush with cash to spend on an acquisition feel. The vaccine and treatment brought in more than $16 billion combined just in the recently completed second quarter.

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