GSK to acquire Nuvalent for $10.6 billion

British pharmaceutical giant GSK announced on Tuesday, June 9, 2026, a definitive agreement to acquire U.S.-based cancer drug developer Nuvalent for $10.6 billion in an all-cash transaction. The deal, GSK's largest in over a decade, aims to significantly expand the company's oncology portfolio with a focus on promising lung cancer treatments.

Under the terms of the agreement, GSK will pay $124 per share for Nasdaq-listed Nuvalent, representing a roughly 40% premium to the company's closing price on Monday. The net investment for GSK is estimated at approximately $9.4 billion after accounting for cash on Nuvalent's balance sheet. The transaction is expected to close in the third quarter of 2026, pending regulatory approvals, and will be funded primarily through new and existing debt facilities plus cash on hand.

The acquisition provides GSK with three key lung cancer assets in a single transaction. This includes Nuvalent's two lead drug candidates, zidesamtinib and neladalkib, which are designed to treat specific genetic mutations in non-small cell lung cancer, often found in non-smoking patients. Both candidates are currently under review by the U.S. Food and Drug...