GSK to buy US lung cancer drug specialist Nuvalent for £8bn

GSK has agreed to acquire Nuvalent, a US-based lung cancer drug developer, in a deal valued at about £8 billion ($10.6 billion). The offer is $124 per share for Nasdaq-listed Nuvalent, which is based in Cambridge, Massachusetts, and the transaction would mark GSK's largest deal in more than a decade. The merger adds three lung cancer products in a single transaction, including late-stage candidates zidesamtinib and neladalkib, both under FDA review. GSK Chief Executive Luke Miels said the lead assets could be best-in-class and launch this year if approved, offering immediate sales growth and a platform for rapid expansion. Net cost is about $9.4 billion after Nuvalent’s cash, and the deal supports GSK’s plan to reach over £40 billion in sales by 2031.