GSK is buying Nuvalent, a Boston biotech with two oral kinase inhibitors already under FDA review, for $10.6 billion, marking the UK drugmaker's largest acquisition in more than a decade.
The deal centers on two next-generation oral small molecule pills: zidesamtinib, a ROS1 inhibitor, and neladalkib, an ALK inhibitor — both targeting non-small cell lung cancer. Both have FDA breakthrough therapy designation and are currently under agency review, with PDUFA dates of September 18 for zidesamtinib and November 27 for neladalkib. A third program, NVL-330, is in phase 1.
Per the merger agreement, GSK will commence a tender offer to acquire all of Nuvalent’s outstanding shares of common stock at a purchase price of $124 per share in cash within 10 business days. The aggregate equity value of the transaction is estimated to be $10.6 billion. The deal expected to close in Q3 2026.
The acquisition is the first major move by Luke Miels, who took over as CEO after Emma Walmsley stepped down late last year.