February 20, 2024
Pfizer will purchase Global Blood Therapeutics for $5.4 billion in cash.

Pfizer will purchase Global Blood Therapeutics for $5.4 billion in cash.

Global Blood Therapeutics (GBT), a biopharmaceutical company, and American drugmaker Pfizer reached an agreement on Monday that Pfizer will purchase GBT in an all-cash transaction for 5.4 billion dollars.

 

According to Pfizer, the acquisition would accelerate the company’s growth by strengthening its work in rare hematology and reaffirming its dedication to sickle cell disease research and treatment.

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According to the terms of the agreement, Pfizer will buy all of the existing shares of the California-based GBT for 68.50 dollars each in cash, giving the company a total enterprise value, including debt and cash acquired, of almost 5.4 billion dollars.

 

Pfizer anticipates using its available funds to fund the transaction.

 

The proposed transaction, which has been unanimously authorized by the boards of directors of both businesses, is still subject to the usual closing requirements, such as obtaining regulatory approvals and stockholder approval for GBT. (dpa/NAN) (www.nannews.ng)

Pfizer will purchase Global Blood Therapeutics for $5.4 billion in cash.

 

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