LIFE science debt investor Biopharma Credit has snagged a more than £30m windfall thanks to Pfizer's latest billion-dollar deal.
Pfizer, now flush with Covid-19 cash, confirmed on Monday it had bought Global Blood Therapeutics (GBT) for $5.4bn (£4.4bn).
UK-based Biopharma has $132.5m in a senior secured loan to GBT and now expects to receive an around $38m paydown this autumn, the trust's investment manager said yesterday.
Global pharmaceutical and life science sectors have been among the pandemic's biggest winners, having seen strong inflows of investment.
Pfizer expects to finance the latest transaction with "existing cash on hand", as it continues to reap billions each quarter from its Covid-19 jab and pill.
With the pandemic's larger players going on their anticipated spending sprees, onlookers have long said that M&A in the space will trickle down the pharma's small and mid-cap firms.
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