August 8, 2022 – Pfizer Inc. and Global Blood Therapeutics, Inc. (GBT) have entered into a definitive agreement under which Pfizer will acquire GBT, a biopharmaceutical company dedicated to the discovery, development and delivery of treatments for underserved patient communities, starting with sickle cell disease (SCD).
GBT developed Oxbryta (voxelotor) tablets, a first-in-class medicine that directly targets the root cause of SCD. Oxbryta was approved in the United States in November 2019 and is also approved in the European Union, United Arab Emirates, Oman and Great Britain. Net sales for Oxbryta were approximately $195 million in 2021. Leveraging its global platform, Pfizer plans to accelerate distribution of GBT’s innovative treatment to parts of the world most impacted by SCD.
Under the terms of the transaction, Pfizer will acquire all the outstanding shares of GBT for a total enterprise value of approximately $5.4 billion, including debt and net of cash acquired.
The Boards of Directors of both companies have unanimously approved the transaction.
Pfizer expects to finance the transaction with existing cash on hand. The proposed transaction is subject to customary closing conditions, including receipt of regulatory approvals and approval by GBT’s stockholders.