GSK in talks to buy cancer biotech Nuvalent

GSK is reported to be in advanced talks to acquire U.S. cancer drug developer Nuvalent in a transaction valued at more than $9 billion. People familiar with the matter have indicated that a potential deal could value Nuvalent between $9 billion and $10 billion, though no binding agreement has been announced.

The discussions, if successful, would represent a large-scale transaction for the UK pharmaceutical group as it seeks to strengthen its position in oncology. Nuvalent focuses on targeted therapies for lung cancer, an area of high strategic interest for major drugmakers.

According to the reports, GSK and Nuvalent were locked in intensive talks late on Monday and were aiming to reach an agreement as soon as this week. The companies have been working toward finalising terms but remain in the negotiation phase.

Both sides have yet to reach a final agreement and sources have cautioned that the talks could still fall apart over last‑minute hurdles. As of the latest accounts, the discussions remain ongoing and unconfirmed, with no definitive transaction disclosed by either company.

Coverage of the talks noted that Nuvalent had a market value of nearly $7 billion at Monday’s close. A takeover at a valuation between $9 billion and $10 billion would therefore represent a significant premium to the company’s recent market capitalisation.

The reported price range highlights the level of interest in specialised oncology developers among large pharmaceutical groups. While the reports did not detail specific share-price movements, they emphasised the substantial uplift implied by the potential offer values relative to Nuvalent’s latest market value.

The takeover discussions come as Nuvalent advances key targeted lung cancer therapies through U.S. regulatory review. Its lead asset, neladalkib, is under review by the Food and Drug Administration with an action date of November 27.

Nuvalent also has an FDA review underway for zidesamtinib. These programmes form the core of the company’s pipeline and are central to its potential strategic value in any transaction. The current regulatory milestones underscore why Nuvalent’s portfolio is drawing interest from larger pharmaceutical companies.

Reports noted that large drugmakers have been actively pursuing acquisitions to bolster their development pipelines, particularly in oncology. Within this broader trend, GSK’s talks with Nuvalent are framed as part of ongoing efforts by major groups to secure access to late‑stage and regulatory‑stage assets.

While the strategic context is widely discussed in market commentary, the latest reports on GSK and Nuvalent remain limited to the fact that negotiations are underway, that a valuation of more than $9 billion is being discussed, and that there is no certainty a deal will be reached.