Pfizer (PFE) in Global Blood Therapeutics (GBT) Takeover Talks

August 5, 2022 11:54 AM EDT

News and research before you hear about it on CNBC and others. Claim your 1-week free trial to StreetInsider Premium here.

Pfizer (NYSE: PFE) is reportedly in advanced talks to acquire Global Blood Therapeutics (NYSE: GBT), according to a report by The Wall Street Journal Friday.

The news follows Thursday's report by Bloomberg that large pharmaceutical companies are eyeing a potential takeover deal for Global Blood Therapeutics.

Pfizer is said to be discussing a potential $5 billion takeover of Global Blood Therapeutics. The company's drug for sickle-cell disease was recently approved. The move would bolster Pfizer's portfolio and pipeline.

The WSJ said its sources told them Pfizer is aiming to seal a deal for GBT within the coming days. However, there is no guarantee of a deal, and other companies are said to be "still in the mix."

GBT shares popped 41% following Thursday's report and have gained another 9.5% Friday.

By Sam Boughedda

Serious News for Serious Traders! Try Premium Free!

You May Also Be Interested In

Related Categories

General News, Hot List, Mergers and Acquisitions, Rumors

Related Entities

Definitive Agreement