Pfizer is buying sickle cell drug maker Global Blood Therapeutics in an approximately $5.4 billion deal as it looks to accelerate growth after its revenue soared during the pandemic.
Pfizer also announced in April a smaller acquisition to buy the privately held ReViral Ltd., which is developing a treatment for respiratory syncytial virus.Pfizer Inc.'s top-selling COVID-19 vaccine and treatment have left the New York City drugmaker flush with cash to spend on an acquisition spree. The vaccine and treatment brought in more than $16 billion combined just in the recently completed second quarter.
Aside from Oxbryta, Global Blood Therapeutics also is developing some other treatments for sickle cell disease. Sickle cell disease is an inherited blood disorder that can lead to bouts of acute pain and organ damage. It occurs particularly among people of African descent.
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