Flush with cash from Covid vaccines, Pfizer spends €5.3bn on sickle cell drug firm

Sickle cell disease is an inherited blood disorder that affects an estimated 70,000 to 100,000 people in the US alone.

Pfizer plant at Ringaskiddy in Cork: The US drugs giant employs around 4,000 people between its sites at Ringaskiddy, Dublin, and Kildare.   

Pfizer is boosting its pipeline with a $5.4bn (€5.3bn) deal for sickle cell disease drugmaker Global Blood Therapeutics, the latest in a series of acquisitions to combat a potential slowdown in Covid-19 products demand as cases fall.

Pfizer has enjoyed an unprecedented rise in sales since the global rollout of its Covid-19 vaccine, developed with Germany's BioNTech. Vaccine sales have, however, started to slow since last year, and BioNTech shares fell sharply in Monday trade when its latest earnings fell short of expectations.