GSK Plc has agreed to buy Nuvalent Inc. in a $10.6 billion deal, expanding its cancer portfolio and marking the first major acquisition under CEO Luke Miels.
Nuvalent, a biotech firm, develops treatments for lung cancer, including two medicines in late-stage trials that could become blockbusters if approved.
The deal, which values Nuvalent at $124 per share, is a 40% premium over its closing share price on Monday and is expected to contribute to revenue growth from 2027.
The acquisition won't impact GSK's guidance for the year and will be funded through new and existing debt facilities, cash, and won't affect its credit rating.
