GSK to buy RAPT Therapeutics in $2.2 billion deal for promising food allergy therapy [Yahoo! Finance]
Pfizer, Inc. (PFE)
Last pfizer, inc. earnings: 4/28 06:45 am
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Source: Yahoo! Finance
food ?allergy drug ozureprubart to its respiratory and immunology portfolio, the ?drugmakers said on Tuesday. The move is GSK's first major acquisition under its new CEO Luke ?Miels as the company navigates U.S. tariffs and seeks new medicines to offset revenue declines from some top-selling drugs going off patent. Investors are counting on Miels to help GSK hit its annual revenue target of more ?than 40 billion pounds ($54 billion) ?by 2031. London-listed GSK will pay $58 per RAPT share, with an upfront investment of $1.9 billion. The deal will give ?GSK global rights to the ozureprubart programme, excluding mainland China, Macau, Taiwan and Hong Kong. RAPT stock surged 63% in premarket trading on Tuesday. In London, GSK shares fell just over 1% and were little changed on Wall Street. RAPT's ozureprubart is a lab-engineered therapy designed to prevent inflammation ?caused by allergic reactions. It works by targeting an antibody responsible for the immune reaction, and offer
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