Drugmaker To Be Acquired By Pfizer For $5 Billion: Report

Pfizer close to completing negotiations with GBT in days, Wall Street Journal reports . Pfizer reported a net loss of $81.4 million on Friday .

The Wall Street Journal announced on Friday that Pfizer, one of the leading producers of Covid-19 vaccines, is close to completing negotiations with GBT in days, citing people close to the project.However, the newspaper added that other takeover contenders have been considered.The government's sickle-cell therapy, marketed as Oxbryta, was originally available for children under the age of 12 in 2019 but was eventually licensed for children aged four to 11.Millions of people are affected by the blood disorder.

Pfizer's second-quarter profits increased by 47 percent, to a record $27.74 billion, due to sales of its Covid vaccine and pills.Pfizer's net income increased by 78 percent to $9.9 billion at the close.