Pfizer Announces $5.4 Billion Deal to Acquire Global Blood Therapeutics

Pfizer Announces , $5.4 Billion Deal , to Acquire Global Blood Therapeutics.

Pfizer has announced a $5.4 billion deal for the blood disorder drugmaker.

NBC reports that the news marks the latest attempt by Pfizer to combat declining demand for COVID-19 products as case numbers fall.

The company has seen an unprecedented rise in sales since the global rollout of its COVID-19 vaccine.

However, sales have begun to slow since the height of the pandemic.

NBC reports that Pfizer is now seeking acquisitions that have the potential to boost sales by billions by the end of the decade.

In May, Pfizer acquired migraine drugmaker Biohaven Pharmaceutical Holding for $11.6 billion.

The company also recently completed a $6.7 billion deal to purchase Arena Pharmaceuticals.

According to NBC, the acquisition of Global Blood Therapeutics would allow Pfizer to boost sales of Oxybryta.

In 2019, Oxybryta was first approved as a treatment for Sickle Cell Disease.

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An estimated 70,000 to 100,000 people in the United States are affected by Sickle Cell Disease, which is an inherited blood disorder.

Following the announcement of the deal, shares of Global Blood rose 4.5%.