GSK in talks to buy cancer biotech Nuvalent for more than $9 billion
British drug giant GSK is reportedly in talks to acquire cancer drugmaker Nuvalent. The deal could be worth over nine billion dollars. Discussions are ongoing, with an agreement potentially this week. This move comes amid a surge in biotech acquis...
By Reuters |
Agencies
GSK in talks to buy cancer biotech Nuvalent for more than $9 billion, FT reports
UK pharmaceutical group GSK is in talks to buy cancer drugmaker Nuvalent for more than $9 billion, the Financial Times reported on Monday, citing people familiar with the matter.
Also read: Kiran Mazumdar-Shaw's Immuneel Therapeutics raises Rs 100 crore from Singularity AMC, Rainmatter, others
Here are some details:
Also read: Kiran Mazumdar-Shaw's Immuneel Therapeutics raises Rs 100 crore from Singularity AMC, Rainmatter, others
Here are some details:
- The companies were locked in discussions late on Monday, aiming to agree on a deal as soon as this week, the report said.
- A potential deal could value Nuvalent between $9 billion and $10 billion, according to the report.
- Reuters could not immediately verify the report. Nuvalent and GSK did not immediately respond to Reuters requests for comment.
- Nuvalent has a market value of nearly $7 billion, according to LSEG data.
- Nuvalent is a clinical-stage biopharmaceutical company focused on creating precisely targeted therapies for patients with cancer, according to its website.
- The deal comes at a time of biotech dealmaking frenzy, with large drugmakers on a spending spree to expand their product pipelines this year. If the current pace holds, the total biopharma M&A value could exceed $250 billion in 2026, according to a Stifel note in April.
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