GSK Plc agreed to buy Nuvalent Inc. for $10.6 billion (7.9 billion pounds), securing a US biotech firm developing treatments for lung cancer as part of the British pharmaceutical company’s effort to rebuild its oncology franchise.
GSK will pay $124 a share in cash for Nuvalent, according to a statement Tuesday, a 40% premium over the Cambridge, Massachusetts-based company’s closing share price on Monday. It marks a significant expansion of GSK’s cancer portfolio, which has been slowly growing since the drugmaker returned to the disease space in 2019, as well as the first major acquisition for Chief Executive Officer Luke ...
