Pfizer Inc. is in advanced talks to buy Global Blood Therapeutics Inc., the maker of a recently approved drug for sickle-cell disease, for about $5 billion, in the latest move by the drug giant to bolster its portfolio and pipeline. Pfizer is aiming to seal a deal for GBT in the coming days, according to people familiar with the matter. Ticker Security Last Change Change % PFE PFIZER INC. 49.27 -0.59 -1.18% GBT GLOBAL BLOOD THERAPEUTICS INC. 63.84 +15.85 +33.03%GBT, of South San Francisco, was founded in 2011. The New York-based drugmaker plans to add $25 billion in revenue from business-development moves like M&A by 2030. In May, it agreed to buy the rest of migraine drugmaker Biohaven Pharmaceutical Holding Co. for $11.6 billion.

Source: Wall Street Journal August 06, 2022 14:23 UTC