UK's GSK falls on $10.6 bln Nuvalent deal to boost lung cancer portfolio
BUZZ-UK's GSK falls on $10.6 bln Nuvalent deal to boost lung cancer portfolio BANGALORE, June 9 (Reuters) - ** British drugmaker GSK GSK.L shares fall 1.4% to 1886.5p after agreeing to acquire U.S.-listed cancer drug developer Nuvalent NUVL.O for $10.6 billion
** The all-cash deal values Nuvalent at approximately $124 per share, a 40% premium to its last closing price
** CEO Luke Miels says acquisition expands lung cancer treatments
** GSK sees deal contributing to revenue from 2027 and EPS from 2029, mainly debt-funded while maintaining dividend and rating
** Of 24 analysts covering the stock, 13 rate it "hold," seven suggest "buy" or higher, and four rate it "sell"; median price target is 1,050 pence, per data compiled by LSEG
** As of last close, GSK up 3.4% YTD
(Reporting by Amna Mariyam)
((amna.mariyam@thomsonreuters.com; 8448625620))