Pfizer (PFE) Completes Acquisition of Global Blood Therapeutics (GBT)
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Pfizer Inc. (NYSE: PFE) announced today the completion of its acquisition of Global Blood Therapeutics, Inc. (GBT), a biopharmaceutical company dedicated to the discovery, development and delivery of life-changing treatments that provide hope to underserved patient communities starting with sickle cell disease (SCD). The acquisition reinforces Pfizer’s commitment to SCD, building on a 30-year legacy in the rare hematology space.
GBT brings a portfolio and pipeline that has the potential to address the full spectrum of critical needs for this underserved community. GBT discovered and developed Oxbryta® (voxelotor), a first-in-class medicine that directly targets the root cause of SCD. In addition, GBT’s promising pipeline of preclinical and clinical investigational assets focused in SCD includes GBT021601 (GBT601) and inclaclumab, both of which have received Orphan Drug and Rare Pediatric Disease designations from the U.S. Food and Drug Administration (FDA).
“With Global Blood Therapeutics’ talent, portfolio, and pipeline now part of Pfizer, we look forward to accelerating innovation and expeditiously bringing multiple potential best-in-class treatments to people living with sickle cell disease,” said Aamir Malik, Chief Business Innovation Officer, Executive Vice President, Pfizer. “In line with our value of equity, Pfizer is committed to addressing the underserved needs of the sickle cell disease community. We are excited about these potential breakthroughs and the opportunity to transform the lives of these patients.”
SCD is a lifelong, devastating inherited blood disorder impacting millions of people worldwide, predominantly in populations of African, Middle Eastern and South Asian descent. Pfizer will continue to build on the companies’ shared commitment to and engagement with the SCD community.
Additional Transaction Details
Pfizer has completed its acquisition of all the outstanding shares of common stock of GBT for $68.50 per share in cash for an estimated total enterprise value of approximately $5.4 billion, including debt and net of cash acquired. GBT is now a wholly owned subsidiary of Pfizer. In connection with the acquisition, GBT’s shares of common stock ceased trading on the NASDAQ Global Select Market.
For additional background on the acquisition, please read the announcement press release here.
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