BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - GSK plc (GSK, GSK.L) has entered an agreement to acquire Nuvalent, Inc. (NUVL), a clinical-stage biopharmaceutical company focused on creating precisely targeted oncology therapies, for $10.6 billion. The company noted that the acquisition includes three products in lung cancer in a single transaction. GSK will account for the transaction as a business combination.
Luke Miels, CEO, GSK said: 'The two lead products are potential best-in-class assets that could launch this year if approved by the FDA and offer significant new treatment options to patients with two forms of non-small cell lung cancer.'
GSK will commence a tender offer to acquire all of Nuvalent's outstanding shares of Class A and Class B common stock at a purchase price of $124 per share in cash within 10 business days. The aggregate equity value of the deal is estimated to be $10.6 billion. Net of cash acquired, GSK's aggregate investment is estimated to be $9.4 billion.
GSK plc said there is no change to its full-year 2026 guidance range of 7-9% core operating profit and core EPS growth. The acquisition is expected to contribute to revenue growth from 2027, be incremental to the existing ambition for sales of above 40 billion pounds by 2031 and to strengthen core operating profit through the dolutegravir loss of exclusivity period. The Group expects accretion to core operating profit in 2027 and core EPS in 2029 inclusive of synergies and reprioritisation. Assuming the transaction closes in third quarter 2026, GSK plc expects low single-digit percentage dilution to core EPS for the current year, fiscal 2027 and fiscal 2028. GSK stated that it remains committed to its 70 pence expected dividend for 2026 and to its progressive dividend policy thereafter.
Nuvalent stock rose over 17% to $104.12 in overnight trading.
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