GSK makes biggest ever acquisition with $10.6bn for US cancer drug firm

Nuvalent’s late-stage lung cancer treatments zidesamtinib and neladalkib are expected to launch later this year

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GSK’s new boss, Luke Miels, has struck one of the British drugmaker’s biggest deals, announcing the $10.6bn (£7.9bn) acquisition of a US cancer specialist with two late-stage medications.

The FTSE 100 company is increasing its oncology portfolio by agreeing to buy Nuvalent, a Boston-based biotech company that develops cancer drugs, including three for lung cancer. GSK will pay $124 a share in cash.