8/8, 12:38 PM (Source: TeleTrader)
more TeleTrader news

Pfizer hits deal to buy GBT for $5.4 billion - report

Pfizer Inc. reached a deal to buy Global Blood Therapeutics Inc. for $5.4 billion or $68.50 a share in cash, according to a report published by the Wall Street Journal on Monday.

Confirming earlier reports, sources familiar with the agreement told the outlet that the official announcement will likely be made later today.

Global Blood Therapeutics is known for having one of the rare treatments for sickle-cell disease, which Pfizer also tried making but was unsuccessful. Next to the San Francisco company, Novartis AG also sells a treatment for pain crises in sickle-cell patients.

Baha Breaking News (BBN) / ND