GSK stock ticks up in London while investors look at Nuvalent cancer deal
GSK shares rose 0.6% to 1,962p in London on Wednesday, outperforming a weaker FTSE 100. Investors focused on GSK’s planned $10.6 billion cash buyout of U.S. biotech Nuvalent, its largest deal in over a decade. The acquisition gives GSK access to two late-stage lung cancer drugs but brings execution risks. GSK continued share buybacks, purchasing 1.10 million shares last week.