Pfizer strikes $5.4 billion deal for Global Blood Therapeutics

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Pfizer Inc. PFE, -1.18% has reached an agreement to buy Global Blood Therapeutics Inc. [s :gbt] in a deal valued at $5.4 billion, the Wall Street Journal reported, citing people familiar with the matter. The news comes after the Journal reported Friday that the two were in advanced talks. Pfizer will pay $68.50- a share in cash for Global Blood Therapeutics, which has one of few approved treatments for sickle-cell disease. The companies are expected to announce the deal later Monday. Global Blood Therapeutics shares rose 1.8% in premarket trade Monday, and are up 118% in the year to date, while the S&P 500 SPX, -0.16% has fallen 13%.

This article was originally published by Marketwatch.com. Read the original article here.

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