Deal marks GSK’s largest acquisition this year, adding late-stage lung cancer therapies under FDA priority review.
GSK will acquire clinical-stage biopharma company Nuvalent for $10.6 billion in cash, its second-largest takeover of 2026. The deal includes two late-stage tyrosine kinase inhibitors targeting non-small cell lung cancer, both under FDA priority review with decisions expected by year-end.
The $124 per share offer represents a 40% premium to Nuvalent’s last closing price and a 26% premium over its 30-day volume-weighted average. The transaction’s net value is $9.4 billion after accounting for Nuvalent’s cash reserves. GSK will fund the deal through debt, maintaining its investment-grade credit rating.
Nuvalent’s pipeline focuses on targeted cancer therapies, aligning with GSK’s strategic shift toward oncology. The acquisition strengthens GSK’s position in the competitive lung cancer market ahead of potential regulatory approvals.