Pfizer to acquire Global Blood rectifiers for$5.4 billion to enhance presence in rare hematology
PfizerInc.( NYSE PFE) and Global Blood rectifiers,Inc.( GBT)( NASDAQ GBT) moment blazoned the companies have entered into a definitive agreement under which Pfizer will acquire GBT, a biopharmaceutical company devoted to the discovery, development and delivery of life- changing treatments that give stopgap to underserved patient communities, starting with sickle cell complaint( SCD). The accession complements and further enhances Pfizer’s further than 30- time heritage in rare hematology and reinforces the company’s commitment to SCD by bringing moxie and a leading portfolio and channel with the eventuality to address the full diapason of critical requirements in this underserved community. Pfizer intends to continue to make on the companies ’ participated commitment to and engagement with the SCD community.
Under the terms of the sale, Pfizer will acquire all the outstanding shares of GBT for$68.50 per share in cash, for a total enterprise value of roughly$5.4 billion, including debt and net of cash acquired. The Boards of Directors of both companies have unanimously approved the sale.
SCD is a lifelong, ruinous inherited blood complaint impacting millions of people worldwide, generally in populations of African, Middle Eastern and South Asian descent. GBT developed Oxbryta ®( voxelotor) tablets, a first- in- class drug that directly targets the root cause of SCD. Oxbryta was approved in the United States in November 2019 and is also approved in the European Union, United Arab Emirates, Oman and Great Britain. Net deals for Oxbryta were roughly$ 195 million in 2021. using its global platform, Pfizer plans to accelerate distribution of GBT’s innovative treatment to corridor of the world most impacted by SCD.
About Sickle Cell Disease
Sickle cell complaint( SCD) is a lifelong, enervating inherited blood complaint characterized by hemolytic anemia, acute pain heads and progressive end organ damage. Acute pain extremity, or vaso- occlusive extremity( VOC), occurs when sickled red blood cells irritate the filling of blood vessels and beget an seditious response leading to vascular occlusion, towel ischemia and pain. Complications of SCD begin in early nonage and are associated with docked life expectation. Beforehand intervention and treatment of SCD have shown implicit to modify the course of this complaint, reduce symptoms and events, help long- term organ damage, and extend life expectation. Historically, there has been a high unmet need for curatives that address the root cause of SCD and its acute and habitual complications. While rare in advanced requests, there are4.5 million people living with SCD encyclopedically and further than 45 million people living with the sickle cell particularity. SCD occurs particularly among those whose ancestors are fromsub-Saharan Africa, though it also occurs in people of Hispanic, South Asian, Southern European and Middle Eastern strain.
About Oxbryta ®( voxelotor)
Oxbryta( voxelotor) is an oral, formerly- diurnal remedy for cases with sickle cell complaint( SCD). Oxbryta works by adding hemoglobin’s affinity for oxygen. Since oxygenated sickle hemoglobin doesn’t polymerize, Oxbryta inhibits sickle hemoglobin polymerization and the attendant sickling and destruction of red blood cells leading to hemolysis and hemolytic anemia, which are primary pathologies faced by every single person living with SCD. Through addressing hemolytic anemia and perfecting oxygen delivery throughout the body, GBT believes that Oxbryta has the implicit to modify the course of SCD.
In recognition of the critical need for new SCD treatments, the FDA granted Oxbryta Advance remedy, Fast Track, Orphan Drug, and Rare Pediatric Disease designations for the treatment of cases with SCD. also, Oxbryta entered the prestigious 2021 Prix Galien USA award for “ Stylish Biotechnology Product ” from The Galien Foundation.
Oxbryta has been granted Priority Medicines( PRIME) designation from the European Medicines Agency( EMA), Oxbryta was designated by the European Commission( EC) as an orphan medicinal product for the treatment of cases with SCD, and Oxbryta was granted Promising Innovative drug( PIM) designation in the United Kingdom from the Medicines and Healthcare products Regulatory Agency( MHRA). In February 2022, the European Commission( EC) granted Marketing Authorization for Oxbryta for the treatment of hemolytic anemia due to SCD in adult and pediatric cases 12 times of age and aged as monotherapy or in combination with hydroxycarbamide( hydroxyurea). The MHRA has granted Oxbryta marketing authorization in Great Britain for the treatment of hemolytic anemia due to SCD in adult and pediatric cases 12 times of age and aged. In addition, the Ministry of Health and Prevention( MOHAP) in the United Arab Emirates( UAE) has granted marketing authorization for Oxbryta for the treatment of SCD in grown-ups and children 12 times of age and aged.
About Pfizer improvements That Change Cases’ Lives
At Pfizer, we apply wisdom and our global coffers to bring curatives to people that extend and significantly ameliorate their lives. We strive to set the standard for quality, safety and value in the discovery, development and manufacture of health care products, including innovative drugs and vaccines. Every day, Pfizer associates work across developed and arising requests to advance heartiness, forestallment, treatments and cures that challenge the most stressed conditions of our time. harmonious with our responsibility as one of the world’s premier innovative biopharmaceutical companies, we unite with health care providers, governments and original communities to support and expand access to dependable, affordable health care around the world. For further than 170 times, we’ve worked to make a difference for all who calculate on us.