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Pfizer, Global Blood Therapeutics In Advanced Talks For $5B Buyout Deal: Report

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  • Pfizer Inc (NYSE: PFE) is reportedly in advanced talks to buy Global Blood Therapeutics Inc (NASDAQ: GBT) for about $5 billion, bolster its portfolio and pipeline.

  • Global Blood Therapeutics markets sickle-cell disease treatment, Oxbryta, which generated $194.7 million in revenue in 2021.

  • Wall Street Journal says that Pfizer aims to seal a deal for GBT in the coming days, citing people familiar with the matter.

  • Some people said the situation is still fluid, and other suitors are still in the mix.

  • GBT announces its second-quarter results Monday.

  • Bloomberg reported earlier this week that some large pharmaceutical companies are looking into a potential deal. Global Blood Therapeutics is reportedly working with advisors to evaluate potential takeover offers.

  • At its current share price of $52.58, GBT has an enterprise value of $3.2 billion.

  • Price Action: GBT shares are trading 41.1% higher during the market session on the last check Friday.

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