GSK has agreed to acquire Nuvalent, Inc. (Nasdaq: NUVL) for USD 10.6 billion, gaining two late-stage kinase inhibitors — zidesamtinib (NVL-520) and neladalkib (NVL-655) — both currently undergoing US FDA approval reviews with target decision dates in Q3 and Q4 2026, respectively. The UK-based pharma giant positions the acquisition as an accelerated entry into lung cancer, creating a commercial platform it intends to expand through risvutatug rezetecan (Ris-Rez), its B7-H3 antibody-drug conjugate (ADC) currently in Phase III development.
Under the merger agreement, GSK will commence a tender offer at USD 124 per share in cash, representing a 40% premium to Nuvalent's last closing price and a 26% premium to the 30-day volume-weighted average price. The aggregate equity value is USD 10.6 billion (approximately GBP 8.0 billion), or USD 9.4 billion net of cash acquired. GSK will fund the transaction primarily through new and existing debt facilities plus cash and will assume Nuvalent's existing revenue-sharing obligations, comprising low-single-digit royalties payable to Royalty Pharma and Deerfield. The transaction is subject to tender of a majority of Nuvalent's Class A common stock and expiration of the Hart-Scott-Rodino waiting period, with closing anticipated in Q3 2026.
Zidesamtinib is a highly selective, next-generation ROS1 inhibitor designed to address resistance mutations and central nervous system penetration limitations associated with earlier-generation agents such as crizotinib and entrectinib. Neladalkib is a next-generation ALK inhibitor engineered to overcome resistance to second-generation inhibitors and to improve tolerability relative to the current standard, Pfizer's lorlatinib, which recently reported seven-year progression-free survival data from the CROWN trial. Both Nuvalent assets carry FDA Breakthrough Therapy and Orphan Drug Designations. Pivotal data for zidesamtinib were presented at the IASLC 2025 World Conference on Lung Cancer, and neladalkib data were presented at the 2026 ASCO Annual Meeting under the ALKOVE-1 study. A third asset, NVL-330, viewed as a potential best-in-class HER2 inhibitor for HER2-altered NSCLC, is currently in Phase I development.