Nuvalent, Inc. Class A Common Stock (NUVL) News
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On this episode of Stock Movers with Alexis Christoforous: - Nuvalent (NUVL) shares are higher on news GSK agreed to buy Nuvalent for $10.6 billion, securing a US biotech firm developing treatments for lung cancer. - JM Smucker (SJM) shares are on the move after it posted…
Nuvalent shares catapulted to a record high Tuesday after GSK made an all-cash bid to buy the small biotech company for $10.6 billion. The post Nuvalent Catapults To Record High On GSK's $10.6 Billion All-Cash Bid appeared first on Investor's Business Daily .
U.K. pharmaceutical giant GSK on Tuesday struck a $10.6 billion deal to buy U.S.-listed biotech company Nuvalent, its biggest acquisition in eight years as it seeks to bolster the cancer portfolio it had previously trimmed.
GSK agreed to buy Nuvalent in a deal valued at $10.6 billion, adding a biotech firm that’s developing treatments for lung cancer as the British pharmaceutical company seeks to rebuild its oncology franchise. Sam Fazeli of Bloomberg Intelligence has more. (Source: Bloomberg)
The deal comes at a time of biotech dealmaking frenzy, driven by looming patent cliffs, newly buoyant public markets and drugmakers' race to bolster pipelines.
GSK Plc is in discussions to purchase cancer treatment maker Nuvalent Inc. for between $9 billion and $10 billion, the Financial Times reported, citing unidentified people familiar with the matter.
New chief Luke Miels makes his mark at GSK with one of UK drugmakers’ biggest deals
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