Pfizer to buy Global Blood Therapeutics in $5.4bn deal

Pfizer has agreed to buy biopharmaceutical group Global Blood Therapeutics for $5.4bn in cash.

GBT is focused on the discovery, development and delivery of treatments for patient communities starting with inherited blood disorder sickle cell disease (SCD).

Under the terms of the deal, which has been unanimously approved by the boards of directors of both companies, Pfizer will pay $68.50 per share.

Pfizer chief executive Albert Bourla said: "Sickle cell disease is the most common inherited blood disorder, and it disproportionately affects people of African descent. We are excited to welcome GBT colleagues into Pfizer and to work together to transform the lives of patients, as we have long sought to address the needs of this underserved community.

"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."