Why Global Blood Therapeutics (GBT) Shares Are Trading Higher Today - Pfizer (NYSE:PFE)

Pfizer Inc PFE is reportedly in advanced talks to buy Global Blood Therapeutics Inc GBT for about $5 billion, bolster its portfolio and pipeline.
Global Blood Therapeutics markets sickle-cell disease treatment, Oxbryta, which generated $194.7 million in revenue in 2021.
Wall Street Journal says that Pfizer aims to seal a deal for GBT in the coming days, citing people familiar with the matter.
Some people said the situation is still fluid, and other suitors are still in the mix.
GBT announces its second-quarter results Monday.
Bloomberg reported earlier this week that some large pharmaceutical companies are looking into a potential deal. Global Blood Therapeutics is reportedly working with advisors to evaluate potential takeover offers.
At its current share price of $52.58, GBT has an enterprise value of $3.2 billion.
Price Action: GBT shares are trading 41.1% higher during the market session on the last check Friday.

Pfizer, Global Blood Therapeutics In Advanced Talks For $5B Buyout Deal: Report