GSK Acquires Oncology Biotech Nuvalent in a Landmark $10.6 Billion Deal
British pharmaceutical titan GSK has inked its biggest deal in over a decade. On June 9, 2026, it announced an agreement to buy Boston-based oncology biotech Nuvalent, Inc. (NASDAQ: NUVL) for $10.6 billion in an all-cash transaction. The deal values Nuvalent at $124 per share, a 40% premium over the company’s last closing price, triggering a nearly 39% surge in Nuvalent shares in premarket trading.
The strategic acquisition is set to significantly enhance GSK’s oncology portfolio, particularly in non-small cell lung cancer (NSCLC). It consolidates three lung cancer therapy candidates into a single transaction, including zidesamtinib (NVL-520) and neladalkib (NVL-655) — two late-stage, next-generation inhibitors that have each received breakthrough therapy designation from the FDA.
This move signifies a major strategic shift under GSK’s new CEO Luke Miels. The company aims to narrow the gap with its Anglo-Swedish competitor AstraZeneca, whose oncology sales made up 44% of total group revenue last year. Net of cash acquired, GSK’s effective investment in Nuvalent is approximately $9.4 billion. The acquisition is projected to boost GSK’s sales and operating profit in 2027, and to core earnings per share by 2029.
The deal is anticipated to close in Q3 2026, subject to regulatory approvals.