Can we trust Pfizer to help keep us alive? Pfizer buys Sickle Cell drug maker Global Blood for $5.4B

BY MICHAEL THOMAS

Pfizer has made a mega purchase recently acquiring Sickle Cell drug maker Global Blood Therapeutics, Inc. for $5.4B.

According to the terms of this transaction, Pfizer will take charge of all the outstanding shares of GBT for $68.50 per share in cash, for a total enterprise value of approximately $5.4 billion, including debt and net of cash acquired. The Board of Directors of the two companies have fully approved the transaction.

Who are Global Blood Therapeutics, Inc.? Global Blood Therapeutics, Inc. (GBT) is a biopharmaceutical company dedicated to the discovery, development, and delivery of life-changing treatments that provide hope to underserved patient communities.

Starting with Sickle Cell disease as its primary focus the drug company was founded in 2011.

In its press release, the company said it is delivering on its goal to transform the treatment and care of SCD, which is a lifelong, devastating inherited blood disorder.

The company has introduced drugs like Oxbryta® (voxelotor), the first FDA-approved medicine that directly inhibits sickle hemoglobin (HbS) polymerization, the root cause of red blood cell sickling in SCD.

In addition, GBT’s drug discovery teams are working on new targets to develop the next generation of treatments for Sickle Cell disease.

Pfizer on the other hand has been around for more than 170 years and said in their press release, “At Pfizer, we apply science and our global resources to bring therapies to people that extend and significantly improve their lives.”

“We strive to set the standard for quality, safety, and value in the discovery, development, and manufacture of health care products, including innovative medicines and vaccines. We routinely post information that may be important to investors on our website”

While still quoting Pfizer, here are some more quotes from the drug giant’s press release.

“Sickle Cell disease is the most common inherited blood disorder, and it disproportionately affects people of African descent. We are excited to welcome GBT colleagues into Pfizer and to work together to transform the lives of patients, as we have long sought to address the needs of this underserved community,” said Albert Bourla, Chairman and Chief Executive Officer, Pfizer.

“The deep market knowledge and scientific and clinical capabilities we have built over three decades in rare haematology will enable us to accelerate innovation for the Sickle Cell disease community and bring these treatments to patients as quickly as possible.”

Now for a look at Pfizer’s legal background, medical claims that made it to court, and massive financial settlements.

• In 2012, Pfizer agreed to pay $55 million for illegally promoting Protonix off-label.
• In 2009, Pfizer was in the spotlight because it had given 200 Nigerian children an experimental anti-meningitis drug, Trovan. The drug caused the death of 11 children while the rest were left with disabilities such as deafness, blindness, paralysis, and brain damage. Even when faced with the lawsuit, Pfizer was adamant that the deaths were due to meningitis, not their drug. However, Pfizer agreed to pay $75 million as compensation.
• Pfizer, through its subsidiary, Shiley Inc., sold Bjork-Shiley Convexo-Concave heart valves between 1979 and 1986. Around 55,000 patients received the implant. Pfizer paid 215 million and said it just wanted to end the drama.
• In March 2013, Pfizer agreed to settle 80% of the 2,700 state and federal lawsuits against Chantix amounting to $288 Million. Chantix is a drug designed to help smokers stop smoking and is meant for short-term use. The drug was linked with psychological effects such as suicidal thoughts, depression, hostility, and agitation.
• According to The New York Times, Pfizer agreed to pay $491 million to settle civil and criminal charges over the illegal marketing of Rapamune.

This is just the tip of the iceberg in a very long list of criminal charges against this drug company and the link is right here.

https://lawyerinc.com/biggest-pfizer-lawsuits/

The VAERS aka Vaccine Adverse Event Reporting System website tells another story when it comes to injection injuries and deaths in which this said company has participated.

Since Sickle Cell affects people of African descent mostly, I have a question. Can we trust Pfizer to help keep us alive?