London, Feb 25, 2026, 09:21 GMT — Regular session
- GSK climbed in early London trading, following news of its $950 million cash deal to acquire Canada’s 35Pharma.
- GSK is pushing deeper into respiratory and specialty drugs with the addition of HS235, an experimental treatment for pulmonary hypertension.
- GSK’s separate licensing agreement for kidney-disease gene-silencing remains on investors’ radar, alongside the company’s ongoing share buyback.
GSK ticked up Wednesday, following its $950 million cash deal to acquire Canada’s 35Pharma and take on an in-development pulmonary hypertension therapy.
Investors are watching to see if GSK’s new leadership manages to fill pipeline holes through a string of smaller, focused acquisitions—without losing sight of research spending or shareholder payouts.
This marks the second such deal in as many days for GSK, which has been ramping up efforts in emerging drug technologies and niche disease markets. Just a day earlier, Frontier Biotechnologies announced a potential $1 billion agreement with GSK covering two kidney-disease therapies. Small interfering RNA, or siRNA, works by silencing specific genes to block the production of proteins that drive disease.
GSK edged up 0.1% to 2,204 pence in London as of 09:20 GMT, just above Tuesday’s close of 2,201 pence.
GSK’s deal with 35Pharma hands it HS235, a Phase I candidate gearing up for trials “imminently” in pulmonary arterial hypertension as well as a similar heart failure–related condition. Pulmonary hypertension, which pushes blood pressure up in the lungs and stresses the heart, is typically life-shortening. gsk.com
“Pulmonary hypertension affects millions of people worldwide, yet patients are underserved,” said Tony Wood, chief scientific officer at GSK. He described HS235 as a potential best-in-class medicine, emphasizing its design to reduce bleeding risk and deliver metabolic benefits. gsk.com
GSK is set to buy all of 35Pharma’s equity for $950 million in cash at closing, according to the company. The deal still needs regulatory approvals in both the United States and Canada, and other typical conditions have to be met.
Alongside the deal, GSK disclosed Tuesday it had repurchased 462,000 shares under its standing buyback plan—lifting treasury shares to roughly 5.94% of voting rights.
Even so, investors know the drill. HS235 remains in the early stages, and hurdles like disappointing results in future trial phases, unexpected safety issues, or sluggish patient enrolment could easily erode the deal’s appeal—despite the current optimism around the science.
GSK reiterated its long-term sales target: more than £40 billion by 2031. For 2026, the company expects sales to rise modestly, but it’s forecasting quicker gains in core profit and earnings per share.
Now, attention shifts to how fast GSK moves these assets toward clinical readouts. Investors will also be scanning for any hints on pipeline progress and margins when first-quarter numbers drop on April 29.
