GSK stock steadies as $10.6bn Nuvalent deal turns focus to lung-cancer approvals
GSK plc shares steadied near midday Wednesday, trading at 1,905.5p, up 0.11%, after investors spent a day weighing the cost of its $10.6 billion cash deal for Nuvalent against the chance to add two late-stage lung-cancer medicines that could reach the U.S. market this year. The stock had fallen 0.5% on Tuesday after the acquisition was announced. The deal is the reason GSK is in focus. The London-listed drugmaker agreed to pay $124 a share in cash for Nuvalent, a Boston clinical-stage biotech, valuing the company at $10.6 billion, or $9.4 billion after cash acquired. The price is 40% above Nuvalent’s last close and 26% above its 30-day volume-weighted average price, a trading measure that reflects the average price investors