GlaxoSmithKline PLC has agreed to purchase 35 Pharma Inc., a biotechnology company possessing early-stage hypertension drug assets. This acquisition signifies the British pharmaceutical giant's expansion into the cardiovascular therapeutics sector. In a statement released on Wednesday, GlaxoSmithKline indicated it will acquire the privately-held Canadian firm for $950 million in cash. The transaction represents a strategic pivot for the UK-based drugmaker, which previously maintained a relatively small pipeline of medications targeting diseases affecting the cardiac and metabolic systems.

Newly appointed Chief Executive Luke Mears is under pressure to bolster the company's portfolio of new drugs as he aims to counterbalance the impending patent expiration of a key HIV medication. GlaxoSmithKline's most significant financial challenge stems from the upcoming patent expiry, expected around 2028, for its cornerstone HIV drugs, such as Dovato. Separately, on January 20th, GlaxoSmithKline also announced the acquisition of US-lated RAPT Therapeutics. The core asset of this company is a long-acting anti-IgE monoclonal antibody, JYB1904, which was licensed from JiYu Pharmaceuticals in December 2024 and is primarily intended for treating conditions like food allergies, chronic spontaneous urticaria, and asthma.