Net of cash acquired, GSK’s total investment is estimated at $9.4 billion. The transaction is expected to close in the third quarter of 2026, as per the company statement.
The all-cash acquisition is GSK’s first major deal under Chief Executive Officer Luke Miels, who took charge in January. It is also among the company’s largest acquisitions since its 2014 asset swap with Novartis, under which GSK acquired Novartis’ vaccines business in a transaction valued at about $20 billion.
Nuvalent’s shares had fallen about 12% this year before the deal announcement, leaving the Nasdaq-listed company with a market value of nearly $7 billion.
#News for #investors and #media:
We have entered an agreement to acquire clinical-stage precision oncology company Nuvalent, Inc., bringing in multiple lung cancer assets to our existing oncology portfolio.
Find out more: https://t.co/r7yUaG73LP pic.twitter.com/Jml1bFeJyL
— GSK (@GSK) June 9, 2026
The acquisition comes as global pharmaceutical companies face uncertainty over US trade and pricing policies. Last year, US President Donald Trump threatened tariffs on pharmaceutical imports as part of efforts to encourage domestic manufacturing and lower drug prices.
Three Drugs, One Deal
The acquisition brings GSK three lung cancer therapies in a single transaction. Two — zidesamtinib and neladalkib — are in late-stage development and already under review by the US Food and Drug Administration, with decision dates set for September 18 and November 27, 2026 respectively. Both drugs have received FDA Breakthrough Therapy and Orphan Drug designations.
The third asset, NVL-330, is a HER2 inhibitor in Phase I trials for HER2-altered non-small-cell lung cancer (NSCLC).
NSCLC is the most common form of lung cancer and is characterised by genetic mutations in ALK, ROS1, or HER2. Zidesamtinib targets ROS1 mutations and neladalkib targets ALK mutations. Both conditions primarily affect non-smokers between the ages of 40 and 50.
“The two lead products are potential best-in-class assets that could launch this year if approved by the FDA,” said GSK CEO Luke Miels.
Miels’ First Big Bet
The Nuvalent deal is the first major acquisition for Miels, who took over from Emma Walmsley in January 2026 after she served nearly nine years as CEO. Miels was previously GSK’s chief commercial officer.
GSK returned to the oncology space in 2019 after a long absence, and this deal marks a significant step in rebuilding that franchise. It also complements GSK’s B7-H3 antibody-drug conjugate Ris-Rez, currently in Phase III development, which the company sees as a platform for broader expansion in lung cancer.
In January 2026, GSK separately acquired US biotech Rapt Therapeutics for $2.2 billion to build out its immunology and inflammatory disease pipeline.
“GSK’s proven track record, infrastructure, and expertise will support the successful commercialisation of zidesamtinib and neladalkib, as well as accelerate advancement of our broader discovery pipeline,” said Nuvalent CEO James Porter.