UPDATE 1-GSK in talks to buy cancer biotech Nuvalent for more than $9 billion, FT reports

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June 8 (Reuters) - UK pharmaceutical group GSK GSK.L is in talks to buy cancer drugmaker Nuvalent NUVL.O 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.



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