GSK said it has entered an agreement to acquire Nuvalent, Inc. in a cash transaction valued at $10.6 billion and plans to commence a tender offer to purchase Nuvalent shares for $124 per share in cash. GSK said that, net of cash acquired, it estimates its aggregate investment will be about $9.4 billion.

The company said the deal brings three lung cancer programs in a single transaction, including zidesamtinib and neladalkib, which it said are under regulatory review with target decision dates of 18 September 2026 and 27 November 2026, respectively.

Prior media reporting had said GSK was in advanced talks to buy Nuvalent in a deal valued at more than $9 billion.