Pfizer Inc. is boosting its pipeline with a $5.4 billion deal for blood disorder drugmaker Global Blood Therapeutics, the latest in a series of acquisitions to combat a potential slowdown in COVID-19 products demand as cases fall.
Pfizer said on Monday it will pay $68.50 per share, representing a premium of 7.3 percent to Global Blood stock’s Friday closing and a 42.7 percent premium to Thursday’s closing.
Pfizer has enjoyed an unprecedented rise in sales since the global rollout of its COVID-19 vaccine, developed with BioNTech. Sales have, however, started to slow since last year.
But flush with cash from sales of its COVID-19 vaccine, Pfizer has been on the lookout for acquisitions that could bring in billions in annual sales by the end of the decade….