GSK to acquire U.S. drugmaker Nuvalent for $10.6 billion
GlaxoSmithKline headquarters in London on January 17, 2022.
Hannah Mckay | Reuters
UK pharmaceutical group GSK Signed an agreement to acquire the US-based pharmaceutical manufacturer Nuvalan It made a $10.6 billion acquisition to bolster its lung cancer pipeline, the British drugmaker’s biggest acquisition in more than a decade.
The all-cash deal valued Nuvalent at approximately $124 per share. GSK filing On Tuesday, it represents a 40% premium to the last closing price.
Finance Times It reported the transaction early Tuesday. Nuvalent did not respond to a request for comment.
“This acquisition provides GSK with immediate new sales growth opportunities, incremental profit contributions from 2027 and a platform for rapid expansion in lung cancer with Ris-Rez, our B7-H3 targeted ADC (antibody-drug conjugate),” GSK CEO Luke Miels said in a statement. he said.
There is no change to GSK’s full-year 2026 guidance on underlying operating profit and underlying earnings per share growth, the company said, adding that it expects the acquisition to contribute to revenue growth from 2027.
GSK Inc.
The deal is the second-largest acquisition in GSK’s history, following a 2014 asset swap with Novartis in which it assumed control of the Swiss drugmaker’s vaccines division in a transaction valued at $20 billion.
It would also mark a notable departure from the company’s focus on smaller transactions in recent years.
Miels took over from long-term boss Emma Walmsley at the beginning of this year. He told investors in February It said it would focus on transactions “hiding in plain sight” in the £2 billion ($2.67 billion) to £4 billion range.
Miels was tasked with overhauling a company that was struggling to satisfy investor concerns about its drug pipeline. Since Miels’ appointment, GSK’s share price has increased by approximately 29%. Announced in September.
Nuvalent’s leading asset, neladalkib (a treatment targeting certain types of lung cancer), is currently undergoing FDA review through November 27.
The company also has a new drug application for zidesamtinib for patients with a type of cancer known as ROS1-positive non-small cell lung cancer under FDA review.
Analysts at CGS International have estimated that, if approved, neladalkib and zidesamtinib could generate combined annual revenue of $823 million in fiscal 2029. in a January note to investors.
The deal also comes amid a biotech deal-making frenzy driven by patent gaps, newly revitalized public markets and pharmaceutical giants racing to strengthen their pipelines. Biotech deals worldwide have reached $106 billion across 201 transactions so far in 2026, according to PitchBook data, and the industry is on track for its strongest year since its pre-pandemic peak.
— CNBC’s Elsa Ohlen contributed to this report.
