Pfizer's $5.4 billion deal to acquire the biotech Global Blood Therapeutics continued a year-long $26.4 billion buying spree, as the company puts its Covid-19 windfall to work shoring up its long-term revenue picture.The M&A campaign undertaken by Pfizer (ticker: PFE) stands in contrast to the strategy of its rival Moderna (MRNA), which has done no M&A so far, instead spending its Covid-19 cash on its own pipeline and stock buybacks. So far, investors seem more comforted by Pfizer's approach. Pfizer shares are up 11.

https://www.barrons.com/articles/pfizer-moderna-stock-price-covid-deal-spending-spree-51660065154

#barrons