GSK to acquire cancer-focused biotech Nuvalent for $10.6 billion
GSK announced it will acquire Nuvalent, a biotech that develops targeted cancer therapies, in a transaction valued at $10.6 billion.
The purchase price translates to $124 per Nuvalent share, a 26% premium to the average share price over the prior month. GSK will fund the deal primarily with cash, about $9.4 billion.
The acquisition is intended to strengthen GSK's oncology portfolio, especially in lung cancer, as the company seeks to offset upcoming generic competition for some of its existing products.
The deal is among the larger recent biopharma transactions and marks GSK's biggest acquisition in years, reflecting ongoing consolidation in the sector.
This writeup was produced by pharmadog from original reporting by STAT.
Original headline: “STAT+: GSK to buy Nuvalent, maker of targeted cancer drugs, for $10.6B”
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