Pfizer chief govt Albert Bourla stated the deal is supposed to place sources behind new remedies for an underserved group of sufferers.
“The deep market knowledge and scientific and clinical capabilities we have built over three decades in rare hematology will enable us to accelerate innovation for the sickle cell disease community and bring these treatments to patients as quickly as possible,” Bourla stated.
Sickle cell disease is an inherited blood dysfunction wherein purple blood cells can change into onerous, sticky and “sickle-shaped,” resulting in a variety of well being issues together with an infection and stroke. It impacts about 100,000 Americans who’re disproportionately of African, Middle-Eastern and South Asian descent, in keeping with CDC data.
Ted Love, a medical physician who leads Global Blood Therapeutics as chief govt, stated the Pfizer buyout will broaden and amplify his firm’s influence whereas permitting it to propel much-needed innovation in nations the place medical sources are scarce.
Pfizer pays $68.50 per share below the phrases of the all-cash deal, which represents a 7.3 p.c premium on Global Blood Therapeutics’ Friday closing value, and a 42.7 p.c premium in comparison with Thursday’s closing, earlier than the Wall Street Journal reported that the 2 corporations have been in superior merger discussions.
This is a growing story and shall be up to date.