British pharmaceutical company GlaxoSmithKline (GSK) has agreed to acquire US biotech firm RAPT Therapeutics for $2.2 billion, gaining access to ozureprubart, a drug in development for food allergies.
Okay News reports that the deal, announced on Tuesday, values RAPT at $58 per share and is expected to close in the first quarter of 2026.
Ozureprubart is a long-acting antibody offering potential dosing every 12 weeks, compared to current treatments requiring injections every two to four weeks.
GSK highlighted that more than 17 million people in the United States are diagnosed with food allergies, with over 1.3 million experiencing severe reactions.
AJ Bell investment director Russ Mould noted: “If GSK can crack the formula for a more convenient treatment, it stands to potentially make big bucks.”
California-based RAPT focuses on therapies for inflammatory and immunologic diseases.
GSK’s share price fell 1.6 per cent on London’s FTSE 100 index, which declined more than one per cent overall amid concerns over US tariff policies.
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