UK pharmaceutical group GSK is in
talks to buy cancer drugmaker Nuvalent for more than $9
billion, the Financial Times reported on Monday, citing people
familiar with the matter.
Here are some details:
* The companies were locked in discussions late on Monday,
aiming to agree on a deal as soon as this week, the report said.
* A potential deal could value Nuvalent between $9 billion
and $10 billion, according to the report.
* Reuters could not immediately verify the report. Nuvalent
and GSK did not immediately respond to Reuters requests for
comment.
* Nuvalent has a market value of nearly $7 billion,
according to LSEG data.
* Nuvalent is a clinical-stage biopharmaceutical company
focused on creating precisely targeted therapies for patients
with cancer, according to its website.
* The deal comes at a time of biotech dealmaking frenzy, with large drugmakers on a spending spree to expand their product pipelines this year. If the current pace holds, the total biopharma M&A value could exceed $250 billion in 2026, according to a Stifel note in April.