Pfizer Eyes $5 Billion Acquisition of Global Blood Therapeutics to Bolster Sickle Cell Disease Portfolio

Thanks toCOVID-19With the large amount of funds earned, Pfizer has been looking for assets in the biopharmaceutical field to expand its pipeline. Now, the pharmaceutical company seems to have set its sights on Global Blood Therapeutics, Inc. and its marketed sickle cell disease drug, Oxbryta.

Last Friday, The Wall Street Journal reported that Pfizer is considering acquiring GBT for $5 billion. Citing sources familiar with the matter, the report said the deal is not yet finalized, as other potential buyers besides Pfizer may still attempt to acquire the company.

GBT has not yet responded to market rumors and speculation.

Affected by this rumor, GBT had a hot week in the stock market. The company's stock opened at $32.40 on Monday and was trading at over $67 on Friday afternoon, with an increase of more than 100%.

The company's leading product is Oxbryta (voxelotor), which was approved in 2019.FDAApproved for use in adults and children aged 12 years and older with sickle cell disease (SCD)ChildrenPatient. In 2021, Oxbryta was approved for the treatment of sickle cell disease in patients aged 4 to 12. This made Oxbryta the first FDA-approved drug for the treatment of SCD in children. In the first quarter of 2022, Oxbryta's revenue reached $55 million. GBT will announce its second-quarter financial report on Monday.

Oxbryta is not GBT's only treatment for sickle cell disease. In June this year, the company's pipeline products inclacumab and GBT021601 received orphan drug designation and rare pediatric disease designation from the FDA for the treatment of SCD. Inclacumab is a novel P-selectin inhibitor currently in Phase III clinical trials, aimed at evaluating its efficacy in reducingBlood VesselThe potential in terms of the occurrence of vaso-occlusive crises (VOCs) and the risk of readmission. GBT601 is a new generation of sickle hemoglobin polymerization inhibitor, currently being evaluated in the Phase II stage of a Phase II/III project.

As for Pfizer, after making a fortune during the large-scale epidemic, it has been busy with mergers and acquisitions in the biopharmaceutical field. In the most recent deal, Pfizer acquired the majority of Biohaven's business for $11.6 billion. Through this acquisition, Pfizer will obtain Biohaven's emerging migraine drug, Nurtec.

Before acquiring Biohaven, Pfizer spent $6.7 billion in December 2021 to acquire Arena Pharmaceuticals and $525 million to acquire ReViral, a biotechnology company specializing in RSV treatments.