Pfizer to buy Global Blood Therapeutics in $5.4 billion deal
Publishing timestamp: 2022-08-08 11:01:22
Summary
Pfizer Inc agrees to buy Global Blood Therapeutics in a $5.4 billion deal to boost its pipeline and rare disease treatment business, following a series of acquisitions to combat potential slowdown in Covid-19 product demand. Pfizer is using cash from Covid-19 vaccine sales to invest in acquisitions that could bring in billions in annual sales by the end of the decade. Shares of Global Blood rose 4.5% following the deal announcement.
Sentiment: POSITIVE
Keywords: business news, biotech and pharmaceuticals, pfizer inc, biohaven pharmaceutical holding co ltd, health care industry, global blood therapeutics inc,
Source: https://www.cnbc.com/2022/08/08/pfizer-to-buy-global-blood-therapeutics-in-5point4-billion-deal.html