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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The British pharmaceutical multinational GlaxoSmithKline has 10.6 billion dollars (9.2 billion euros) available for Nuvalent, an American maker of…
Acquisition should give GSK ownership of three candidate medicines for lung cancer treatment
GSK buys cancer drugmaker Nuvalent for $10B
GSK bought cancer drugmaker Nuvalent for $10.6 billion, a sign of the growing importance of cancer in the pharma market. Cancer is becoming both more prevalent and more treatable: It is a disease of aging, and as fewer people die of other things, they live long enough to get cancer. There are also signs that it is becoming more common in younger ages, notably colorectal cancer, although the reasons are disputed. At the same time, survival rates …
The British pharmacist, GSK, has reached an agreement to acquire the American biopharmaceutical, Nuvalent, which focuses on oncological therapies, for 10.6 billion dollars (9,192 million euros). This operation should be completed by the end of this year and will allow the British company to acquire three products in development phase against lung cancer, which are considered promising. According to the agreed terms, GSK now has 10 days to presen…
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