GSK announced on June 9, 2026, that it has agreed to acquire Nuvalent, a US biotechnology company specializing in cancer treatments, for approximately $10.6 billion in cash [1, 2, 3, 4]. The deal values Nuvalent shares at $124 per share, representing a roughly 40% premium over the stock’s closing price before the announcement [1, 2, 3, 4].
Nuvalent is a clinical-stage biopharmaceutical company focused on targeted therapies for cancer, particularly non-small cell lung cancer. It has two late-stage drugs, zidesamtinib and neladalkib, currently under review by the U.S. Food and Drug Administration (FDA) [5, 1, 6, 2, 3, 4]. These drugs primarily target mutations found in non-smoking adults with lung cancer [1, 6, 2, 3, 4]. FDA decisions on these treatments are expected in September and November 2026, with launches possible later in the year if approved [1, 6, 2].
The acquisition marks GSK's largest deal in over a decade and reflects a strategic shift toward larger transactions under new CEO Luke Miels, who replaced Emma Walmsley [1, 6, 2, 3]. Miels called the acquisition "a multi-product deal" involving "essentially three products in one" and highlighted the potential of the lead drugs to become best-in-class options offering new treatments for lung cancer patients [1, 3].
Before the acquisition, Nuvalent had a market capitalization of about $7 billion [5, 6, 2, 3]. GSK expects the deal to provide immediate revenue growth opportunities and to contribute to earnings from 2027 onward [1, 2, 3]. The company aims to grow its sales to over £40 billion annually by 2031, with lung cancer therapies playing a key role in this expansion [1, 3].
Negotiations took place around June 8-9, 2026, with plans to finalize the deal within the week [5, 1, 7, 6, 8]. The transaction is expected to close in the third quarter of 2026, subject to regulatory approvals [4].
