Authorizations from GBT shareholders and the green light from the regulatory authorities are still awaited.
The American pharmaceutical group Pfizer announced Monday the acquisition for approximately 5.4 billion dollars of Global Blood Therapeutics (GBT), manufacturer of a drug recently approved against a genetic disease, sickle cell anemia. Pfizer specifies that the acquisition will be financed with its existing cash, by buying back all of the GBT shares, at a price of 68.50 dollars per share, the group specifies in a press release.
The boards of directors of the two companies have unanimously approved the transaction, which must now obtain the authorizations of the regulatory authorities and the shareholders of GBT.
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Accelerating the distribution of sickle cell treatment
Global Blood Therapeutics’ sickle cell treatment is called Oxbryta. In the United States, it has been authorized for children over 12 since 2019 and since last December for children aged 4 to 11. It is also authorized within the European Union, United Arab Emirates, Oman and Great Britain. The drug allowed the laboratory to generate a turnover of 55 million dollars in the first quarter (+41%), but a net loss of 81.4 million dollars.
“Leveraging its global platform, Pfizer plans to accelerate distribution of innovative GBT treatment to regions of the world most affected by sickle cell disease“says Pfizer.
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Global Blood Therapeutics is due to release its second quarter financial results on Monday but, due to the acquisition, will not hold the scheduled conference call.
The action Pfizer gleaned 0.04% Monday in electronic trading before the opening of the New York Stock Exchange, to 49.29 dollars. That of GBT, which had jumped 33.03% on Friday at the close, took another 4.51% on Monday morning, to 66.72 dollars.
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