Pfizer to Buy Global Blood Therapeutics in $5.4 Billion Deal (3)

Pfizer Inc. has agreed to buy Global Blood Therapeutics Inc., the maker of a drug for sickle-cell disease, in a deal worth $5.4 billion.

The New York drug giant will pay $68.50 for each outstanding share of Global Blood, the companies said Monday in a statement. That’s double the stock’s price on Aug. 3, when Bloomberg reported the company was drawing takeover interest. The total equity value of the deal excluding debt is about $4.6 billion, according to Bloomberg calculations.

Both boards unanimously approved the transaction. Pfizer will gain Oxbryta, South San Francisco, California-based Global Blood’s therapy ...