The FTSE 100 fell slightly, led by a 3.5% drop in GSK shares following its £8 billion acquisition of US biotech firm Nuvalent, a deal larger than investors expected. While the acquisition aims to boost GSK's oncology pipeline and revenue from 2027, some investors worry about the deal's size. Other UK blue-chips like Glencore and AstraZeneca also declined, while European and Asian markets showed gains, supported by strong semiconductor stocks and easing oil prices. UK retail sales rebounded 3.7% in May, providing some economic optimism. The market remains cautious amid geopolitical tensions and energy concerns, with future trading updates and global developments likely to influence investor sentiment.
GSK has agreed to acquire Boston-based biotech firm Nuvalent for $10.6 billion in cash, paying $124 per share, a 40% premium over the last closing price. This marks GSK's largest acquisition in over a decade and aims to strengthen its lung cancer dru...
British pharmaceutical company GSK announced it will acquire cancer drug developer Nuvalent for $10.6 billion. This deal caused Nuvalent's stock to surge 39% as investors reacted positively to the acquisition. The move highlights GSK's strategic inve...
GSK has agreed to acquire U.S. biotech company Nuvalent for $10.6 billion, marking its largest purchase in eight years. This move aims to strengthen GSK's cancer drug offerings, which it had previously reduced. The deal follows GSK's 2018 acquisition...
GSK has agreed to acquire US biotech firm Nuvalent for $10.6 billion (£8 billion) to enhance its oncology portfolio with advanced lung cancer treatments and other assets. The deal includes late-stage drugs zidesamtinib and neladalkib, both under FDA ...
UK pharmaceutical company GSK is negotiating to acquire oncology biotech Nuvalent for more than $9 billion, potentially finalizing the deal this week. This acquisition would be GSK's largest in over ten years and marks a shift from its recent smaller...
