[Transfer] Pfizer plans to acquire GBT $ 5 billion to seize the new track

Source: Siqi Club/Su Mang, Janessa

Benefiting from the strong demand for the new crown vaccine and the new crown oral medication, Pfizer reached the top of the global pharmaceutical company with $ 53.4 billion when this year's semi -annual report was announced. This result also made Pfizer confidently find new assets to expand the pipeline.

Recently, the Wall Street Journal reported that Pfizer was considering acquiring Global Blood therapeutics (GBT) for $ 5 billion. The newspaper quoted people familiar with the matter as saying that it was not fully concluded because other potential acquirers may still be trying to acquire GBT and even raise prices during the negotiation process.

At present, GBT has not responded to market rumors and speculation. However, due to this rumor, GBT stocks have risen significantly. The company's stock opened on Monday, which was reported at $ 32.40, and the transaction price of Friday afternoon exceeded $ 67, an increase of more than 100%.

What is the potential of GBT?

However, even according to $ 67/share, the market value of GBT is still only 4.3 billion US dollars, which is far less than Pfizer's bid. What attraction does this company have, is it worthy of Pfizer's acquisition of $ 5 billion?

According to public news, GBT was established in 2011 and is committed to developing treatment methods for sickle cell disease (SCD). The company's main product is Oxbryta (Voxelotor).

SCD is a genetic blood disease with patients' lives. Due to abnormal blood cells in blood, patients have a new moon or sickle -shaped, which hinders the normal transport of oxygen. Patients are often accompanied by severe pain and organ damage. They are also known as they are also called "The most painful blood disease."

At present, global SCD cell diseases have affected nearly 20 million people, and about 100,000 people in the United States are plagued by the disease.

And GBT's Oxbryta is a daily SCD innovation therapy. The main mechanism can directly inhibit hemoglobin aggregation and prevent SCD from the main pathology of SCD.

In November 2019, the US FDA approved GBT's innovative therapy Oxbryta for the treatment of adults or young patients over 12 years old. FDA awarded the identification of Oxbryta breakthrough therapy, orphan drug qualifications, fast channel qualifications, and rare pediatric disease identification. This is the first innovative therapy for the FDA approved to target hemoglobin aggregation.

In 2021, Oxbryta was approved for the treatment of sickle cell diseases for patients 4 to 12. This makes Oxbryta the first drug to be approved by FDA for the treatment of SCD children.

The data of GBT in the first quarter of 2022 showed that Oxbryta's income was $ 55 million.

Pfizer continues to expand the pipeline

In the second quarter of 2022, Phae's new crown oral medication PAXLOVID achieved sales of $ 8.1 billion, of which the US market sold 4.5 billion yuan, plus the first quarter of the first quarter. It reaches $ 9.6 billion.

In the previous semi -annual report, Pfizer's revenue of the new crown products exceeded 30 billion US dollars in the first half of the year, and returned to the throne of the Pharmaceutical TOP1.

Thanks to the large funds earned by COVID-19, Pfizer has been looking for assets in the field of biopharmaceuticals to expand the pipeline. Pfizer's blood science focuses on the sickle cell disease (SCD) and hemophilia, which coincides with Oxbryta, a sickle cytocytosis drug on the market.

In addition to GBT, on May 10, 2022, Pfizer acquired most of Biohaven's business for $ 11.6 billion, which may be called "the largest acquisition of the year". Through this acquisition, Pfizer will get Biohaven's rising headache drug NURTEC.

Prior to the acquisition of Biohaven, Pfizer spent $ 6.7 billion in Arena Pharmaceuticals in December 2021 to expand inflammation and immunology product pipelines. Arena's star product is Etrasimod, which is currently developing for the treatment of ulcerative colitis (UC), Crohn's disease and eosinophils.

On April 7, 2022, Pfizer announced that it decided to acquire RSV for RSV for RSV to treat biotechnology company Reviral at a price of $ 525 million. The transaction strengthened Pfizer's product line for respiratory cytotrocirus and subsequently traded in the stock market on April 7th on April 7th. Among them, Pfizer's stock rose 1.9% to $ 53.85.

Evan Seigerman, an analyst at BMO Capital Market, said that $ 5 billion is a relatively small transaction for Pfizer, and it will still retain the ability to further acquire other companies.

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