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GSK in talks to acquire Nuvalent for more than $9 billion in biggest deal in over a decade: FT
The potential purchase would be GSK’s biggest deal in more than a decade and could value Nuvalent at up to $10 billion, the FT reported.
- British pharmaceutical group GlaxoSmithKline is in talks to acquire oncology biotech Nuvalent for more than $9 billion, the Financial Times reported Tuesday, with the companies aiming to finalize a deal as early as this week.
- This potential acquisition marks a notable departure from GSK Chief Executive Luke Miels' recent focus on smaller deals, after he previously told investors he would concentrate on $2 billion to $4 billion transactions.
- Valued at $9 billion to $10 billion, the deal would be GSK's second-largest acquisition, trailing its 2014 asset swap with Novartis, and represents a premium of roughly 29% to 43% over its market capitalization.
- Representatives for GSK and Nuvalent did not respond to CNBC's requests for comment, while both sides have yet to reach a final agreement and talks could still fall apart over last-minute hurdles.
- According to PitchBook data, global biotech deals reached $106 billion across 201 transactions so far this year, a frenzy driven by looming patent cliffs and a race among pharma giants to bolster their drug pipelines.
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GSK to buy US cancer treatment firm Nuvalent for $10.6bn
British drugmaker’s new chief executive Luke Miels announces one of its biggest deals Business live – latest updates GSK’s new boss Luke Miels has struck one of the British drugmaker’s biggest deals, announcing the $10.6bn (£7.9bn) acquisition of a US cancer specialist with two-late stage medications. The FTSE 100 company is boosting its oncology portfolio [...]
Evening Standard+3 Reposted by 3 other sources
GSK to buy US lung cancer drug specialist Nuvalent for £8bn
The acquisition is thought to be GSK’s biggest deal in more than a decade.
·London, United Kingdom
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Coverage Details
Total News Sources18
Leaning Left5Leaning Right4Center5Last UpdatedBias Distribution36% Left, 36% Center
Bias Distribution
- 36% of the sources lean Left, 36% of the sources are Center
36% Center
L 36%
C 36%
R 28%
Factuality
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