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PFIZER, INC.

(PFE)
  Report
Delayed Nyse  -  04:03 2022-09-29 pm EDT
44.16 USD   -0.61%
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Pfizer scoops up Global Blood Therapeutics in $5.4bn deal

08/09/2022 | 01:31am EDT

PFIZER has bought Global Blood Therapeutics (GBT) for $5.4bn (£4.4bn), as the US pharmaceutical giant continues its Covid-19 cash spending spree.

The deal, announced yesterday, will strengthen Pfizer's sickle cell disease expertise, with bosses eyeing combined worldwide sales of over $3bn.

Pfizer CEO and chairman 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 famed American Covid-19 vaccine maker expects to finance the transaction with "existing cash on hand", it said, having secured $27.7bn in revenue in the second quarter.

Pfizer has been flush with cash following the success of its Covid-19 vaccine, which has been distributed worldwide and favoured by the UK government over Britain's homegrown Oxford-Astrazeneca rival.

(c) 2022 City A.M., source Newspaper

Stocks mentioned in the article
ChangeLast1st jan.
GLOBAL BLOOD THERAPEUTICS, INC. -0.06% 68.07 Delayed Quote.132.70%
PFIZER, INC. -0.61% 44.16 Delayed Quote.-24.76%
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Analyst Recommendations on PFIZER, INC.
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Financials (USD)
Sales 2022 102 B - -
Net income 2022 32 739 M - -
Net cash 2022 10 262 M - -
P/E ratio 2022 7,80x
Yield 2022 3,67%
Capitalization 248 B 248 B -
EV / Sales 2022 2,34x
EV / Sales 2023 2,91x
Nbr of Employees 79 000
Free-Float 59,0%
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Mean consensus OUTPERFORM
Number of Analysts 22
Last Close Price 44,16 $
Average target price 55,75 $
Spread / Average Target 26,3%
EPS Revisions
Managers and Directors
Albert Bourla Chairman, Chief Executive & Operating Officer
David M. Denton Chief Financial Officer & Executive Vice President
Mikael Dolsten Executive VP, President-Research & Development
Lidia L. Fonseca Executive VP, Chief Digital & Technology Officer
Aida Habtezion Chief Medical Officer
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