GSK Deal to Boost Its Oncology Push

 

“GSK agreed to buy U.S. cancer-drug developer Nuvalent for $10.6 billion, the British pharmaceutical company's latest move to bolster its oncology business.

 

The acquisition is set to give GSK two drug candidates for lung cancer that are currently under review by the U.S. Food and Drug Administration as well as a third, earlier-stage medicine, the London-based company said Tuesday.

 

The deal comes as GSK works to rebuild its position in the market for cancer treatments, one of the most lucrative areas of the pharmaceuticals industry.

 

GSK exited oncology in 2015 as part of a broader asset-swap deal with Switzerland's Novartis. The company has since returned to the market with the acquisitions of Tesaro, Sierra Oncology and IDRx as well as licensing deals.

 

"Our strategy has been a brick-by-brick building approach," GSK Chief Executive Luke Miels said, adding that the company would continue to look for further opportunities.

 

Under the deal, GSK said it would launch a tender offer of $124 a share in cash for Nuvalent -- a 40% premium to its closing price Monday.

 

The deal for the Cambridge, Mass.-based business marks a departure from GSK's recent acquisitions, which have been smaller and typically centered on one-product companies.

 

Nuvalent's two lung cancer drugs in late-stage development, zidesamtinib and neladalkib, are expected to hit the market this year, subject to FDA approval, GSK said.

 

GSK had been looking to enter into lung cancer treatment through an experimental drug licensed from China's Hansoh Pharmaceuticals, ris-rez, and said the Nuvalent deal would accelerate its efforts.

 

GSK said it expects the deal to boost its sales and core operating profit from next year, ahead of the loss of patent protection for HIV drug dolutegravir.

 

The company also said the acquisition would help expand its pipeline by adding another medicine in early-stage studies alongside several other projects that have yet to be tested in clinical trials.

 

Nuvalent shares jumped 39% in U.S. trading, while GSK traded roughly flat in Europe.” [1]

 

1. Business News: GSK Deal to Boost Its Oncology Push. Calatayud, Adria.  Wall Street Journal, Eastern edition; New York, N.Y.. 10 June 2026: B3.