GSK $GSK agreed to acquire Nuvalent $NUVL for $10.6B in cash, offering $124 a share and a 40% premium to Nuvalent’s prior close. The transaction gives GSK two late-stage lung-cancer assets under U.S. FDA review for 2026 approvals.
Zealand Pharma $ZLDPF fell more than 24% after full Phase III survodutide data showed GI-event discontinuations of 19% versus 2.9% on placebo. The same program showed up to 16.6% weight loss, 34% visceral-fat reduction, and 63.1% liver-fat reduction.
Abivax $ABVX fell more than 30% after investors focused on cancer-case details in Phase 3 ABTECT maintenance data, despite placebo-adjusted clinical remission rates of 39.3% and 40.3% for 25 mg and 50 mg obefazimod. The company still targets an FDA NDA submission in late Q4 2026.
Innovent Biologics (01801.HK) rose about 11% after Pfizer $PFE agreed to a global oncology collaboration worth up to $10.5B. The package includes a $650M upfront payment and up to $9.85B in milestone payments.
Eli Lilly $LLY moved higher after reports that the company plans nearly $4B of vaccine acquisitions. The planned deals clear the Tier-1 M&A threshold and extend Lilly’s GLP-1 cash flow into infectious-disease assets.
Google DeepMind spinoff Isomorphic Labs revealed IsoDDE, an AI drug design engine that more than doubles AlphaFold 3's accuracy. It reduces drug discovery timelines from years to months, transforming pharmaceutical R&D.