Overview
- GSK agreed to buy Cambridge, Mass.‑based Nuvalent for $10.6 billion in cash at $124 a share, a roughly 40% premium that the companies announced on Tuesday.
- The deal gives GSK three non‑small cell lung cancer programs including two late‑stage kinase inhibitors — zidesamtinib and neladalkib — that have FDA decision dates of Sept. 18 and Nov. 27, 2026, respectively.
- GSK will fund the purchase mainly with new and existing debt plus cash and says the net cost falls to about $9.4 billion after Nuvalent’s cash is counted and that its credit rating and 2026 guidance are unchanged.
- Markets priced the offer into share moves with Nuvalent stock jumping about 39% and GSK shares sliding roughly 3%, and the companies expect the deal to close in Q3 2026 subject to regulatory clearances and shareholder tendering.
- The acquisition concentrates GSK’s bet on a small set of late‑stage assets that could start contributing revenue in 2027 if approved and helps offset expected HIV patent losses while showing CEO Luke Miels’s shift toward larger, targeted oncology M&A.