BUZZ-UK's GSK falls on $10.6 bln Nuvalent deal to boost lung cancer portfolio

Nuvalent, Inc. Class A
GlaxoSmithKline plc Sponsored ADR

Nuvalent, Inc. Class A

NUVL

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GlaxoSmithKline plc Sponsored ADR

GSK

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- ** British drugmaker GSK GSK.L shares fall 1.4% to 1886.5p after agreeing to acquire U.S.-listed cancer drug developer Nuvalent NUVL.O for $10.6 billion

** The all-cash deal values Nuvalent at approximately $124 per share, a 40% premium to its last closing price

** CEO Luke Miels says acquisition expands lung cancer treatments

** GSK sees deal contributing to revenue from 2027 and EPS from 2029, mainly debt-funded while maintaining dividend and rating

** Of 24 analysts covering the stock, 13 rate it "hold," seven suggest "buy" or higher, and four rate it "sell"; median price target is 1,050 pence, per data compiled by LSEG

** As of last close, GSK up 3.4% YTD