February 2, 2023

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Pfizer buying hematology company Global Blood Therapeutics

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Pfizer Inc.’s top-selling COVID-19 vaccine and treatment left the company flush with cash to spend on acquisitions.

NEW YORK — 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.

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.

2022-08-08 06:35:49

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