Putting Those COVID Profits To "Good" Use.

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 Oh, Pfizer, you devil!

Aug 8 (Reuters) - Pfizer Inc is boosting its pipeline with a $5.4 billion deal for blood disorder drugmaker Global Blood Therapeutics (GBT.O), the latest in a series of acquisitions to combat a potential slowdown in COVID-19 products demand as cases fall.

Pfizer said on Monday it will pay $68.50 per share, representing a premium of 7.3% to Global Blood stock's Friday closing and a 42.7% premium to Thursday's closing, before the Wall Street Journal reported that Pfizer was in advanced talks to acquire the company.

Pfizer has enjoyed an unprecedented rise in sales since the global rollout of its COVID-19 vaccine, developed with BioNTech. Sales have, however, started to slow since last year.

But flush with cash from sales of its COVID-19 vaccine, Pfizer has been on the lookout for acquisitions that could bring in billions in annual sales by the end of the decade.

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