LONDON, 13 June. - (ANA) - Pharma giant GSK has sealed a $10bn deal to snap up Boston-based biopharmaceutical company Nuvalent.

 

The FTSE 100 titan said it will pay $124 per share in cash in the agreement, marking a 40 per cent premium over what Nuvalent’s stock was trading at just before this announcement.

 

The deal is expected to officially close in the third quarter of 2026. GSK’s shares were down nearly three per cent in early trading to 1,861.00p as investors digested the news.

 

“The initial share price response indicates some trepidation among investors which is understandable given the size of the takeover,” Russ Mould, investment director at AJ Bell, said.

 

Nuvalent has built high-tech, precisely targeted therapies that are designed to minimise side effects and overcome the drug-resistance issues common in older cancer treatments. GSK said the deal covers three products in lung cancer treatment in “one single transaction”.

 

The firm said it expects the revenue from these new cancer drugs starting in 2027 to help cushion the blow after losing exclusivity on its money-making HIV drug.

 

It added the deal would help GSK clear its target of over £40bn in annual sales by 2031. 

 

Luke Miels, chief executive of GSK, said: “The acquisition provides GSK with immediate new sales growth opportunities, improving profit contributions from 2027, and a platform in lung cancer for rapid expansion.”  -(ANA) -

 

AB/ANA/13 June 2026 - - -