# GSK to buy US lung cancer drug specialist Nuvalent for £8bn

By Russ Mould — 2026-06-09

Russ Mould, investment director at AJ Bell, said: “New GSK chief executive Luke Miels isn’t hanging around as he puts his mark on the business. Less than six months into his tenure he has committed to the company’s largest acquisition in more than a decade.

“The takeover of US cancer specialist Nuvalent fits with the group’s strategy of focusing on oncology as a key engine of growth for the business. It could also help support an ambitious target of achieving £40 billion in revenue by 2031.

“The initial share price response indicates some trepidation among investors which is understandable given the size of the takeover. GSK is paying a hefty premium to get the deal over the line and the two big lung cancer products flagged by Miels in heralding the takeover still await regulatory approval. Any acquisition of this size will always face challenges around integration.

“With GSK having fallen behind its UK counterpart AstraZeneca in share price terms in recent years, Miels clearly felt a slow and steady approach wasn’t going to get the job done. In rolling the dice on such a big transaction, he is undoubtedly taking a risk.”

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