GSK buys Nuvalent for $10.6 billion to deepen lung cancer push
What's new: GSK is paying $124 a share in cash, a 40% premium, and expects the deal to add revenue growth from 2027.
GSK agreed to acquire Cambridge, Massachusetts-based Nuvalent for $10.6 billion in cash, giving the British drugmaker two late-stage lung cancer medicines and a broader oncology pipeline. The deal values Nuvalent at $124 a share, about 40% above its prior closing price. GSK said the acquisition supports its effort to rebuild its cancer business and could help offset pressure expected when its top HIV product loses exclusivity from 2028. Nuvalent’s two lead programs target forms of non-small-cell lung cancer with specific mutations, and GSK said the FDA is expected to decide on both later this year. GSK shares fell in London trading, while Nuvalent shares jumped in U.S. premarket activity. The transaction is expected to close in the third quarter, pending approvals.