GSK to acquire Nuvalent for $10.6 billion, expanding its lung-cancer pipeline

GSK announced it will buy Cambridge-based biotech Nuvalent for $10.6 billion, paying $124 per share, a 26% premium to the biotech's recent average share price.

Nuvalent has two lung‑cancer drugs under FDA review that target specific genetic mutations, with approval decisions expected later this year.

The acquisition broadens GSK’s oncology portfolio beyond its focus on gynecologic cancers and multiple myeloma, adding a targeted lung‑cancer segment.

The deal is the largest transaction pursued by GSK’s new CEO, Luk, underscoring a strategic push into precision cancer therapies.