Global Blood Therapeutics, Inc.
Global Blood Therapeutics, Inc. (GBT) (NASDAQ:GBT) is a biopharmaceutical company dedicated to the discovery, development, and delivery of life-changing treatments that give hope to underserved patient communities, beginning with sickle cell disease. Today, Pfizer Inc. (NYSE:PFE) and GBT announced they have entered into a definitive agreement under which Pfizer (NYSE:PFE) will acquire GBT (SCD). The acquisition strengthens the company’s commitment to SCD. It adds to Pfizer’s more than 30-year history in rare hematology by bringing expertise and a top-tier portfolio and pipeline that have the potential to meet all pressing needs in this underserved community. Pfizer (NYSE:PFE) plans to expand on the businesses’ shared dedication to and engagement with the SCD community.
Following the terms of the deal, Pfizer (NYSE:PFE) will buy all of GBT’s outstanding shares for $68.50 each in cash. This will give GBT a total enterprise value of about $5.4 billion, including debt, when money is paid for the shares. Both boards have approved many directors in unanimity.
Millions of people worldwide suffer from SCD, a fatal genetic blood illness most common in persons of African, South Asian as well as Middle Eastern origin. Oxbryta® (voxelotor) pills, a first-of-its-kind medication that specifically addresses the underlying cause of SCD, were created by GBT. In addition to the European Union, United Arab Emirates, Oman, and Great Britain, Oxbryta was approved in the United States in November 2019. In 2021, Oxbryta’s net sales were about $195 million. Pfizer (NYSE:PFE) intends to hasten the dissemination of GBT’s ground-breaking medication to regions of the world where SCD is most prevalent by utilizing its global platform.
Additionally, GBT is conducting Phase 2/3 clinical research to develop GBT021601 (GBT601), an oral, once-daily, next-generation sickle hemoglobin (HbS) polymerization inhibitor. GBT601 can potentially be a best-in-class drug that aims to reduce the frequency of vaso-occlusive crises and hemolysis (VOC). Inclacumab, an entirely human monoclonal antibody that targets P-selectin, is another drug in GBT’s promising pipeline.
It is being tested in two Phase 3 clinical trials as a potential quarterly treatment to lower the frequency of VOCs and lower hospital readmission rates because of VOCs. The U.S. Food and Drug Administration has given GBT601 and inclacumab the classifications of Orphan Drug and Rare Pediatric Disease (FDA). If approved, the SCD brand that would be created by GBT’s pipeline and Oxbryta may have peak global sales of more than $3 billion.
Featured Image: Megapixl @Timonschneider
