GSK agreed to acquire Nuvalent for $10.6 billion in cash, a deal designed to add two near-commercial lung cancer therapies that are under FDA review. The acquisition includes ROS1 and ALK targeted inhibitors, zidesamtinib and neladalkib, which have FDA decision target dates set for 2026. GSK said the programs have received breakthrough therapy and orphan drug designations, positioning them as potential best-in-class options for NSCLC with ROS1- or ALK-driven disease. The deal also includes an additional preclinical portfolio, broadening the buyer’s lung cancer pipeline. The acquisition adds to a surge of large pharma–biotech transactions and supports GSK’s stated strategy of bolt-on purchases with clinically proven targets. It also tees up an expansion opportunity with GSK’s lung cancer ADC and further pipeline reinforcement. For the oncology competitive landscape, the transaction increases the likelihood of new entrants in ROS1 and ALK sequencing and may influence pricing, trial designs, and subsequent partnership negotiations as FDA decisions approach.