Company Performance - Pfizer's drug for sickle cell disease failed a phase three trial [1] - The failure impacts Pfizer's investment in Global Blood Therapeutics, acquired for approximately $5 billion [1] - Pfizer had to pull Oxbrida from the market due to safety concerns [2] - One remaining drug from the Global Blood Therapeutics acquisition is in phase three development [2][3] Industry Dynamics - Sickle cell disease primarily affects black people, with limited treatment options available [4] - Global Blood Therapeutics was developing easier-to-take pills and drugs for sickle cell disease [4] - Existing treatments, like gene editing, can be intensive, requiring hospitalization [5] - There is hope that Pfizer and other companies can develop easier treatments for patients [5]