Gsk acquires Rapt Therapeutics for $2.2 billion
The British pharmaceutical group will pay $58 per share, representing a 65% premium over Monday's $35.10 stock market close
by Mo.D.
Key points
Biotechs are coveted by big pharma and remain a field of conquest. The latest announcement is that of GlaxoSmithKline, which has taken over Rapt Therapeutics, a US biotech engaged in the development of therapies for patients suffering from inflammatory and immunological diseases, in a deal worth a total of$2.2 billion. In detail, the British pharmaceutical group will pay $58 per share, a 65% premium over Rapt Therapeutics' closing of $35.10 on Monday.
The deal includes the acquisition of ozureprubart, a potential prophylactic treatment for food allergies that would require a lower frequency of administration than the current standard of care. Gsk clarified that the deal will grant it global rights to the ozureprubart programme, with the exclusion of China.
Following the announcement yesterday, Gsk shares on the London Stock Exchange closed down around 2%. However, the group's shares are coming off a positive 2025, up around 36% in 2025. The stock of Californian Rapt Therapeutics, on the other hand, jumped about 63% to $57.50 per share, matching the price of the deal.
A pipeline of doubts
Luke Miels, who took over the helm of Gsk at the beginning of the year, will now have to prove to investors that the pipeline of new drugs will be sufficient to support end-of-decade revenue targets and compensate for the patent expiry of a flagship HIV drug. Under previous CEO Emma Walmsley, the UK group spun off its consumer health division Haleon and strengthened its pipeline through several targeted acquisitions. However, investors remained unconvinced by the potential of the upcoming experimental drugs. The group is also facing pressure on the vaccine business, with lower than expected sales, partly because in the US, Health Secretary Robert F. Kennedy Jr. has promoted sceptical positions on vaccines, influencing key recommendations on routine immunisations.
Growth strategies
Gsk is currently strengthening its focus on two strategic pillars: oncology drugs and innovative therapies in immunology and inflammation. The acquisition in 2024 of Aiolos Bio, engaged in the development of an asthma drug, goes in this direction.
