By George Glover
Shares in RAPT Therapeutics were soaring Tuesday after pharmaceuticals company GSK agreed to buy the biotech, which develops treatments for patients with inflammatory and immunologic diseases.
RAPT stock jumped 64% to $57.46 ahead of the opening bell. GSK's American depositary receipts were flat, while futures tracking the S&P 500 slumped 1.6% as investors fretted over President Donald Trump's plan to impose tariffs on eight NATO countries until they let his administration acquire Greenland.
GSK said on Tuesday that it had agreed to acquire RAPT for $58 a share in cash. The deal has an estimated aggregate equity value of $2.2 billion, and is expected to close in the first quarter.
The acquisition includes ozureprubart, a treatment that aims to target and neutralize immunoglobulin E (IgE), the immune-system antibody that triggers allergic responses.
Current anti-IgE treatments involve injections every two to four weeks. Ozureprubart offers the potential for doses every 12 weeks, which GSK said would support improved compliance and patient outcomes and provide an alternative treatment for 25% of patients currently ineligible for existing therapy.
Investors have been anticipating a surge in pharma deal activity in 2026 as drug makers look to replenish their pipelines and take advantage of lower interest rates.
ING healthcare and technology economist Diederik Stadig forecast on Tuesday that volume and total deal value for biotech mergers and acquisitions would rise by 15% this year, which would amount to nearly 520 deals and more than $230 billion in deal value.
Merck, Johnson & Johnson, Novartis, Sanofi and Bristol Myers Squibb are among the pharma companies that are likely to pursue deals in 2026, Stadig said.
Write to George Glover at george.glover@dowjones.com
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(END) Dow Jones Newswires
January 20, 2026 07:10 ET (12:10 GMT)
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