GSK completes $10.6 billion acquisition of Nuvalent, the largest in its history

GSK announced it has completed a $10.6 billion purchase of Nuvalent, marking the biggest deal the company has ever undertaken.

The transaction was disclosed on Tuesday and values Nuvalent at $124 per share, a price noted to be lower than earlier expectations.

Analysts observed that the timing coincided with a dip in biotech stock prices during the ASCO conference, suggesting GSK may have secured a discount.

The acquisition expands GSK’s portfolio in oncology and immunology, though the brief report did not detail the strategic benefits.