Load product by Sku or Id -
$u_product = Mage::getModel('catalog/product')->loadByAttribute('sku', $sku);
2 - Delete group price
$u_product->setData('group_price',array());
$u_product->save();
3 - Add new group price -
$g_Pricing = array (
array ('website_id'=>0, 'cust_group'=>2, 'price'=>120),
array ('website_id'=>0, 'cust_group'=>3, 'price'=>150)
);
$u_product->setData('group_price',$g_PricingData);
$u_product->save();
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