Pfizer logo
A person walks past a Pfizer logo in the Manhattan borough of New York City. Image Credit: REUTERS

Pfizer in Talks to Buy Sickle-Cell Drugmaker for $5 Billion, WSJ Reports

Pfizer Inc. is in advanced talks to buy Global Blood Therapeutics Inc., the maker of a drug for sickle-cell disease, for about $5 billion, the Wall Street Journal reported.

The New York-based drug giant is looking to finalize a deal in the coming days, the Journal reported, citing people familiar with the matter who asked not to be identified. Bloomberg News had reported earlier this week that the biotech was drawing takeover interest from large pharmaceutical companies.

Global Blood's shares jumped by roughly 50% in New York trading Friday after being briefly halted for volatility.

The South San Francisco, California-based company's drug Oxbryta is approved by the US Food and Drug Administration to treat sickle-cell, a hard-to-treat, painful disease that most commonly affects Black people.