GSK to Acquire U.S. Lung Cancer Drug Developer with Support Agreements from Major Shareholders

GlaxoSmithKline LLC, GSK’s U.S. subsidiary, established an acquisition vehicle called Harmony Row Acquisition Co., and certain shareholders of Nuvalent, Inc. (NASDAQ: NUVL) have entered into a tender and support agreement to tender all of their Nuvalent shares into the proposed offer and vote in favor of the merger.

Under this agreement, those shareholders will tender any additional shares they acquire before the agreement’s expiry, oppose any competing takeover bids, accept transfer restrictions, waive their appraisal rights and refrain from supporting alternative acquisition proposals—thereby meeting GSK’s conditions for closing the merger.

GSK plc also announced that it has agreed to acquire Nuvalent’s common stock in a cash tender offer at $124 per share, valuing the company at approximately $10.6 billion—about a 40 percent premium, or roughly KRW 14 trillion.

Nuvalent, a Massachusetts-based clinical-stage oncology biotech, focuses on developing precision kinase inhibitors for targeted cancer therapies such as lung cancer. In the global pharmaceutical sector, major firms including GSK are actively pursuing multi-trillion-won biotech acquisitions to bolster their oncology pipelines.