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UK's GSK to acquire U.S. drugmaker Nuvalent for $10.6 billion as pharma giants race to expand pipelines
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- The all-cash deal values Nuvalent at about $124 per share, according to a GSK filing on Tuesday, representing a 40% premium to its last closing price.
- The Financial Times had reported the transaction earlier on Tuesday.
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U.K. pharmaceutical group GSK has entered an agreement to acquire U.S.-based drugmaker Nuvalent for $10.6 billion to bolster its lung cancer pipeline, in what would be the British drugmaker's largest acquisition in more than a decade.
The all-cash deal values Nuvalent at about $124 per share, according to a GSK filing on Tuesday, representing a 40% premium to its last closing price.
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