GSK to Buy Nuvalent for $10.6B, Adding Three Lung Cancer Drugs
GSK•GSK agreed to acquire Nuvalent for $10.6 billion ($124 per share), a 40% premium financed by debt and cash, boosting certain financial metrics in 2027 but not 2026. The deal secures three lung cancer therapies—Zidesamtinib, Neladalkib (FDA Breakthrough, Orphan designations) and early-stage NVL-330—plus Nuvalent’s preclinical programs and low-single-digit royalty obligations.
1. Acquisition Terms
GSK will acquire all outstanding shares of Nuvalent for $124 per share, valuing the deal at $10.6 billion, a 40% premium to the prior closing price. The transaction will be funded through new and existing debt facilities plus cash, yielding a net-of-cash value of $9.4 billion.
2. Oncology Pipeline
The acquisition brings three non-small cell lung cancer therapies: Zidesamtinib and Neladalkib in late-stage trials with Breakthrough Therapy and Orphan Drug designations, and early-stage NVL-330. GSK will also assume Nuvalent’s preclinical portfolio of multiple oncology programs.
3. Financial Impact
While the deal is expected to enhance certain financial metrics beginning in 2027, GSK’s 2026 metrics remain unaffected. GSK will honor existing low-single-digit royalty agreements payable to Royalty Pharma and Deerfield.
4. Strategic Fit
This multi-product acquisition aligns with GSK’s strategy to acquire companies with clinically validated science, addressing efficacy and tolerability gaps in cancer treatment. The lead therapies could launch upon FDA approval later this year, expanding GSK’s oncology franchise.
