GSK $GSK to buy Nuvalent $NUVL for $10.6B at $124 a share

$10.6B is the headline number in GSK’s agreement to acquire Nuvalent, Inc. $NUVL, with the all-cash tender offer set at $124 a share. GSK said the price represents a 40% premium to Nuvalent’s last closing price and values the oncology biotech as a multi-asset lung-cancer transaction.

The GSK release says the deal adds zidesamtinib and neladalkib, two late-stage targeted therapies for non-small cell lung cancer that are under U.S. FDA review for potential 2026 approvals. GSK frames the acquisition as a way to accelerate its entry into lung cancer while adding a platform around its B7-H3 antibody-drug conjugate program.

The market reaction was concentrated in Nuvalent because the $124 cash price put a hard transaction value above Monday’s close. CNBC reported that Nuvalent shares rose about 39% after the agreement, while GSK investors weighed the cash outlay and integration risk. GSK said the net investment is expected to be about $9.4B after Nuvalent cash is included.

For GSK, the financial bar is explicit: sales and core operating profit accretion are expected in 2027, with core EPS accretion expected in 2029 after synergies and portfolio reprioritisation. The near-term risk is regulatory approval of the tender offer and the FDA review path for the two lead assets.

Next watch points are the tender-offer documents, Nuvalent’s Schedule 14D-9, and any FDA updates on zidesamtinib and neladalkib during 2026.

Not investment advice. Verify all figures with primary sources before acting.