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GSK Canada and the pan-Canadian Pharmaceutical Alliance sign Letter of Intent for Blenrep for the treatment of relapsed or refractory multiple myeloma

Key Takeaway: GSK Canada has finalized a Letter of Intent with the pan-Canadian Pharmaceutical Alliance for Blenrep, a treatment for relapsed or refractory multiple myeloma. This agreement aims to secure public drug plan coverage, allowing eligible patients access to this new therapeutic option. The move is seen as a significant step towards improving treatment accessibility for patients facing this complex disease.
Price reaction · baseline $51.08 (2026-09-21 close) · hit pre-market · clean, no other GSK news in the window
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POSITIVE FACTORS

  • GSK Canada has secured a Letter of Intent for Blenrep, enhancing treatment options.
  • Public coverage for Blenrep could significantly improve patient access to therapy.
  • The agreement reflects successful negotiations between GSK and the pCPA.

CONCERNS & RISKS

  • Final coverage is still subject to individual public drug plans' review processes.
  • The LOI does not guarantee reimbursement for Blenrep.

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+6%
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GSK1349572
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Full Press Release Details

MISSISSAUGA, ON , Sept. 22, 2026 /CNW/ -- GSK Canada announced today that it has completed negotiations with the pan-Canadian Pharmaceutical Alliance (pCPA), resulting in a Letter of Intent (LOI) for Blenrep (belantamab mafodotin for injection) for the treatment of adult patients with relapsed or refractory multiple myeloma.
The LOI with the pCPA is an important step towards securing public drug plan coverage for Blenrep across Canada. Following the finalization of funding agreements with each of the provinces and territories, eligible patients will gain publicly funded access to Blenrep as a new treatment option for relapsed or refractory multiple myeloma.
"This agreement moves us closer to ensuring that eligible patients can access new treatment options for a disease that often relapses and requires multiple lines of therapy," said Tina Graves, General Manager, GSK Canada. "Our priority now is to work with provinces and territories to translate the pCPA outcome into access for patients. Multiple myeloma has seen great innovation in recent years, yet there remains a need for effective, practical treatments that are accessible across all treatment settings and that help reduce the day-to-day impact of care on patients and their families."
"People affected by this rare and complex blood cancer often face repeated rounds of treatment, ongoing symptoms and frequent hospital visits, which can be challenging for patients in urban settings as well as those in rural and remote communities. Public coverage for new treatment options such as Blenrep has the potential to ease some of that burden and give patients and families greater confidence that the care they need will be within reach over the long term," said Martine Elias, CEO, Myeloma Canada.
"We're pleased to see two successful negotiations for Blenrep for adult patients with multiple myeloma who have received at least one prior therapy," said Mauro Chies, Chief Executive Officer, pCPA. "Drug price negotiations are opportunities for strong collaboration, and both the pCPA and GSK can share satisfaction in knowing we are supporting timely public coverage of new drugs for Canadians who need them."
The LOI does not itself constitute a reimbursement decision. Final coverage will be determined by individual public drug plans in line with their own review processes and timelines. The successful conclusion of pCPA negotiations underscores GSK Canada's commitment to advancing innovation in hematology-oncology and improving outcomes for people living with multiple myeloma.
Blenrep is the first and only anti-BCMA (B-cell maturation antigen) antibody-drug conjugate (ADC) for multiple myeloma. Blenrep 's mechanism of action is distinct from other therapies, and it is approved in two combination regimens that can be administered to a broad range of patient types as early as first relapse without complex pre-administration care or hospitalization. Blenrep was approved in two different combination regimens by Health Canada in July 2025 .
Multiple myeloma is the third most common blood cancer globally and is generally considered treatable but not curable. 1,2 There are approximately more than 180,000 new cases of multiple myeloma diagnosed globally each year. 3 Multiple myeloma is a significant concern in Canada, where, in 2025 alone, 4,300 people were diagnosed with the disease. 4 Research into new therapies is needed as multiple myeloma commonly becomes refractory to available treatments. 1
Blenrep is an antibody-drug conjugate (ADC) comprised of a humanized anti-BCMA monoclonal antibody conjugated to the cytotoxic agent monomethyl auristatin F.
In Canada, Blenrep (belantamab mafodotin for injection) is indicated for the treatment of adults with relapsed or refractory multiple myeloma who have received at least one prior line of therapy. Specifically, Blenrep is indicated:
- in combination with bortezomib and dexamethasone (BVd), in adult patients who have received at least one prior therapy; and
- in combination with pomalidomide and dexamethasone (BPd), in adult patients who have received at least one prior line of therapy, including lenalidomide.
Please consult the Product Monograph at www.gsk.ca for complete safety information. The Product Monograph is also available by calling 1-800-387-7374.
Our ambition in oncology is to help increase overall quality of life, maximize survival, and change the course of disease, expanding from our current focus on blood and women's cancers into lung and gastrointestinal cancers, as well as other solid tumours.
GSK is a global biopharma company with a purpose to unite science, technology, and talent to get ahead of disease together. Find out more at www.gsk.ca .
Cautionary statement regarding forward-looking statements
GSK cautions investors that any forward-looking statements or projections made by GSK, including those made in this announcement, are subject to risks and uncertainties that may cause actual results to differ materially from those projected. Such factors include, but are not limited to, those described in the "Risk Factors" section in GSK's Annual Report on Form 20-F for 2025, and GSK's Q2 Results for 2026.
1. Sung H, Ferlay J, Siegel R, et al. Global Cancer Statistics 2020: GLOBOCAN Estimates of Incidence and Mortality Worldwide for 36 Cancers in 185 Countries. CA Cancer J Clin. 2021;71(3):209-249. doi:10.3322/caac.21660.
2. Kazandjian D. Multiple myeloma epidemiology and survival: A unique malignancy. Semin Oncol. 2016;43(6):676–681.doi: 10.1053/j.seminoncol.2016.11.004.
3. Global Cancer Observatory. International Agency for Research on Cancer. World Health Organization. Multiple Myeloma fact sheet. Available at: https://gco.iarc.who.int/media/globocan/factsheets/cancers/35-multiple-myeloma-fact-sheet.pdf. Accessed 5 March 2025.
4. Multiple myeloma statistics. Canadian Cancer Society. Available at: https://cancer.ca/en/cancer-information/cancer-types/multiple-myeloma/statistics. Accessed 6 May 2026.
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Frequently Asked Questions

What is Blenrep used for?

Blenrep is used for treating adults with relapsed or refractory multiple myeloma.

What does the Letter of Intent signify?

The Letter of Intent indicates progress towards securing public drug plan coverage for Blenrep.

Who negotiated the LOI for Blenrep?

The LOI was negotiated between GSK Canada and the pan-Canadian Pharmaceutical Alliance.

What is the next step after the LOI?

The next step is finalizing funding agreements with provinces and territories.

Is Blenrep guaranteed to be reimbursed?

No, the LOI does not guarantee reimbursement; that will be determined by public drug plans.

Last updated: Sep 22, 2026