LONDON, June 10 – British pharmaceutical giant GSK has agreed to acquire US biotechnology company Nuvalent for US$10.6 billion, strengthening its position in the fast-growing cancer treatment market.

Nuvalent, based in Boston, specialises in developing precision therapies for cancer, particularly targeted treatments for lung cancer. The acquisition will add three promising cancer drug candidates to GSK’s portfolio, including two late-stage therapies currently undergoing regulatory review in the United States.

GSK said the drugs, zidesamtinib and neladalkib, have the potential to become leading treatments in their class and could reach the market before the end of 2026, subject to approval by the relevant authorities.

GSK Chief Executive Officer Luke Miels said the acquisition aligns with the company’s strategy to expand its oncology business by investing in innovative medicines with significant commercial and clinical potential.

Meanwhile, Nuvalent CEO James Porter said GSK’s global capabilities and extensive commercial experience would help accelerate the development and worldwide rollout of the company’s cancer therapies, while also advancing its broader research pipeline.

The deal comes as the global pharmaceutical industry continues to adapt to shifting market conditions and policy changes in the United States. Last year, the sector faced uncertainty following tariff proposals by Donald Trump, which were designed to encourage domestic investment and reduce prescription drug costs.

In response, GSK and several other major international drugmakers agreed to lower the prices of certain prescription medicines for US patients in exchange for temporary tariff exemptions.

The acquisition also marks one of the first major strategic moves under Luke Miels, who assumed the role of GSK CEO in January after previously serving as the company’s Chief Commercial Officer. If completed as planned, the transaction is expected to further strengthen GSK’s long-term growth strategy in oncology and specialty medicines.