Pfizer and Global Blood Therapeutics (GBT) have entered into a definitive agreement that sees the pharmaceutical company acquiring the biopharma for $5.4b USD. With the purchase, Pfizer brings into its rare hematology fold a company that offers expertise in the area, including a focus on sickle cell disease (SCD) and conditions that impact underserved communities.
Under the terms, Pfizer will acquire GBT’s outstanding shares for $68.50 USD each in cash. Both boards of directors have unanimously approved the transaction.
SCD is a lifelong, genetic blood disorder that impacts millions worldwide, predominantly in populations of African, Middle Eastern, and South Asian descent. GBT’s developed therapeutics include Oxbryta (voxelotor) tablets, which targets SCD’s root cause—it was first approved in the US in November 2019 and also has been granted approval in the European Union, United Arab Emirates, Oman, and the UK. Net sales for the drug were approximately $195m USD in 2021.
“Sickle cell disease is the most common inherited blood disorder, and it disproportionately affects people of African descent; we are excited to welcome GBT colleagues into Pfizer and to work together to transform the lives of patients, as we have long sought to address the needs of this underserved community,” said Albert Bourla, Pfizer’s chairman and CEO. “The deep market knowledge and scientific and clinical capabilities we have built over three decades in rare hematology will enable us to accelerate innovation for the sickle cell disease community and bring these treatments to patients as quickly as possible.”