GSK (LSE:GSK) has reached an agreement to acquire California-based RAPT Therapeutics in an all-cash transaction valuing the target’s equity at approximately $2.2 billion. The deal will give GSK global rights, excluding Greater China, to ozureprubart, a long-acting anti-IgE monoclonal antibody currently in Phase IIb development for the preventative treatment of food allergies.
Under the terms of the transaction, which is expected to complete in the first quarter of 2026, RAPT shareholders will receive $58 per share through a tender offer followed by a merger. GSK said the acquisition is intended to enhance its respiratory, immunology and inflammation pipeline, while making use of its established allergy-focused commercial capabilities. Ozureprubart is designed to offer dosing every 12 weeks and could broaden patient eligibility, addressing a fast-growing food allergy market associated with significant healthcare usage and economic costs in the United States.
From a broader perspective, GSK’s outlook continues to be supported by solid financial performance and attractive valuation metrics. Ongoing strategic actions, including share buybacks and sustained investment in research and development, underpin its growth ambitions. These positives are tempered by pressures on cash flow and uneven performance across certain markets, suggesting a balanced but cautiously optimistic near-term view.
More about GlaxoSmithKline
GSK is a global biopharmaceutical group focused on the discovery, development and commercialisation of medicines and vaccines. The company applies science, technology and talent to address major diseases worldwide. The planned acquisition of RAPT Therapeutics, a clinical-stage immunology specialist developing novel treatments for inflammatory and immune-mediated conditions, further strengthens GSK’s position in respiratory, immunology and inflammation, with a particular emphasis on allergy-related therapies.
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