GSK to buy cancer drugmaker Nuvalent for $10.6 billion
GSK (NYSE:GSK) has entered into a definitive agreement to acquire Nuvalent (NASDAQ:NUVL) for $10.6 billion in cash, marking a substantial expansion of the British drugmaker's oncology franchise through the purchase of three targeted lung cancer therapies.
Under the terms of the merger agreement, GSK will commence a tender offer within 10 business days to acquire all outstanding Class A and Class B common stock of Nuvalent at $124 per share.
The purchase price represents a 40% premium to Nuvalent’s last closing price and a 26% premium to its 30-day volume-weighted average price.
The aggregate equity value of the transaction is estimated at $10.6 billion (£8 billion), translating to an aggregate investment of $9.4 billion (£7.1 billion) net of cash acquired.
The acquisition provides GSK with an immediate footprint in non-small cell lung cancer (NSCLC) by absorbing three distinct product lines.
Nuvalent’s two lead assets, zidesamtinib and neladalkib, are late-stage, highly selective inhibitors targeting ROS1 and ALK mutations, which primarily affect non-smoking adults aged 40 to 50.
Both therapies have received Breakthrough Therapy and Orphan Drug designations from the U.S. Food and Drug Administration.
The FDA is currently reviewing the assets, with target decision dates set for September 18, 2026, for zidesamtinib and November 27, 2026, for neladalkib.
If approved, GSK expects to launch both multi-blockbuster potential drugs before the end of the year.
The third asset included in the deal, NVL-330, is a HER2 inhibitor currently undergoing Phase 1 clinical trials.
The transaction remains subject to customary closing conditions, including the tender of a majority of Nuvalent's Class A common stock and U.S. antitrust clearance under the Hart-Scott-Rodino Act.
