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The Guardian - UK
The Guardian - UK
Business
Julia Kollewe

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

GSK Nuvalent Cancer Luke Miels United States Emma Walmsley Lung Cancer FDA Novartis
GSK offices in London
GSK offices in London. The company said the Nuvalent takeover was its biggest ever acquisition. Photograph: Chris J Ratcliffe/Reuters

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.

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