Flush With Cash, Pfizer Buys Global Blood Therapeutics in $5.4 Billion Deal

Flush With Cash, Pfizer Buys Global Blood Therapeutics in $5.4 Billion Deal
Pfizer logo and stock graph are seen in this illustration taken on May 1, 2022. Dado Ruvic/Illustration/Reuters
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Pfizer Inc. is boosting its pipeline with a $5.4 billion deal for blood disorder drugmaker Global Blood Therapeutics, the latest in a series of acquisitions to combat a potential slowdown in COVID-19 products demand as cases fall.

Pfizer said on Monday it will pay $68.50 per share, representing a premium of 7.3 percent to Global Blood stock’s Friday closing and a 42.7 percent premium to Thursday’s closing.