Pfizer Inc. has agreed to buy Global Blood Therapeutics Inc. for $5.4 billion, in a deal that would give the big drugmaker a foothold in the treatment of sickle-cell disease.

Pfizer said Monday it would pay $68.50 a share in cash for Global Blood Therapeutics, which has one of the few approved treatments for sickle-cell disease. The Wall Street Journal reported Friday that the companies were in advanced talks.

This post first appeared on wsj.com

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