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Pfizer buying spree continues with $5.4B hematology deal
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FILE - The Pfizer logo is displayed on the exterior of a former Pfizer factory, on May 4, 2014, in the Brooklyn borough of New York. 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. Both companies' boards have approved the deal, which still needs regulatory approval and approval from GBT shareholders. - photo by AP Photo/Mark Lennihan, File
Pfizer will spend about $5.4 billion to buy Global Blood Therapeutics as the pharmaceutical giant continues to invest some of the cash influx reaped during the COVID-19 pandemic. Pfizer said Monday that the acquisition will boost its capabilities in rare hematology. Global Therapeutics makes Oxybryta tablets for treating sickle cell disease.