GSK plc
Acquisitions
4
Major Deals Covered
$14.7B
Disclosed Deal Value
GSK's largest disclosed acquisition here is Nuvalent for $10.6B in 2026. This page covers 4 major deals from 2022 to 2026, each with its price where disclosed and the reason behind it.
| Company | Year | Price | Purpose |
|---|---|---|---|
| Nuvalent | 2026 | $10.6B | Adds the targeted lung-cancer medicines Jideytro (zidesamtinib) and neladalkib. |
| efimosfermin alfa (from Boston Pharmaceuticals) | 2025 | $1.2B | Phase III-ready candidate for steatotic liver disease, including MASH. |
| IDRx | 2025 | $1.0B | Adds IDRX-42, a tyrosine kinase inhibitor for gastrointestinal stromal tumours (GIST). |
| Sierra Oncology | 2022 | $1.9B | Adds momelotinib for myelofibrosis patients with anaemia. |
2026
$10.6B
Adds the targeted lung-cancer medicines Jideytro (zidesamtinib) and neladalkib.
GSK's largest acquisition in more than a decade, at $124 per share in cash.
Completed in July 2026; $9.4 billion net of cash acquired.
2025
$1.2B
Phase III-ready candidate for steatotic liver disease, including MASH.
Expands GSK into hepatology; up to $800 million of further milestones.
Completed in July 2025.
2025
$1.0B
Adds IDRX-42, a tyrosine kinase inhibitor for gastrointestinal stromal tumours (GIST).
$1 billion upfront plus a potential $150 million milestone.
Announced and completed in early 2025.
2022
$1.9B
Adds momelotinib for myelofibrosis patients with anaemia.
Momelotinib launched as Ojjaara in 2023.
Completed in July 2022.
Under Luke Miels, GSK is combining targeted acquisitions with faster R&D. Deals since 2025 include IDRx (GIST, January 2025), efimosfermin from Boston Pharmaceuticals ($1.2 billion upfront, July 2025) and Nuvalent ($10.6 billion, completed July 2026). In July 2026 GSK identified 7 assets across 18 indications in oncology, respiratory, hepatology and vaccines to speed up, raised its 2026 phase III start target from 10 to more than 20, and launched a cost programme to fund that investment.
GSK makes money by discovering, manufacturing and selling prescription medicines and vaccines, mostly to health systems, insurers, pharmacies and governments. Its sales are reported in three groups. Specialty Medicines (~$17.8 billion (£13.5 billion) in 2025, about 41% of sales) covers HIV through ViiV Healthcare, respiratory and immunology biologics such as Nucala and Exdensur, and oncology drugs such as Jemperli, Ojjaara and Blenrep. Vaccines (~$12.1 billion (£9.2 billion), about 28%) are led by Shingrix for shingles, the Bexsero and Menveo meningitis vaccines and the Arexvy RSV vaccine. General Medicines (~$13.2 billion (£10.0 billion), about 31%) includes established inhalers such as Trelegy and Ventolin and antibiotics like Augmentin. GSK also earns royalty income on licensed products.
Transformative transactions include the Glaxo Wellcome-SmithKline Beecham mega-merger (2000), the acquisition of ID Biomedical (2005, vaccines), the $20B three-part asset swap with Novartis (2015), the acquisition of Tesaro (2019, oncology), the buyout of Novartis's Consumer Healthcare stake (2018), the acquisition of Affinivax (2022, pneumococcal vaccines), Sierra Oncology (2022, myelofibrosis), and Bellus Health (2023, refractory chronic cough).
GSK acquired Tesaro in January 2019 to rebuild its specialty oncology pipeline, securing Zejula (niraparib), an oral PARP inhibitor for ovarian cancer, and foundational anti-PD-1 antibody technology that yielded the blockbuster checkpoint inhibitor Jemperli (dostarlimab).
In 2015, GSK acquired Novartis's global vaccine business for $7.1 billion (securing market-leading meningitis vaccines Bexsero and Menveo) while divesting its older oncology assets to Novartis for $16 billion and forming a Consumer Healthcare joint venture, cementing GSK as the world's #1 vaccine maker.
GSK acquired Sierra Oncology to obtain momelotinib (now approved as Ojjaara), a first-in-class targeted kinase inhibitor that treats myelofibrosis patients with anemia, addressing an urgent unmet medical need in hematologic oncology.
GSK acquired Affinivax to gain access to its proprietary MAPS (Multiple Antigen Presenting System) technology and late-stage next-generation 24-valent pneumococcal vaccine candidates, designed to provide broader protection against invasive Streptococcus pneumoniae than Pfizer's Prevnar.
GSK acquired Bellus Health to acquire camlipixant, a highly selective P2X3 receptor antagonist in Phase 3 clinical development for the treatment of refractory chronic cough, expanding GSK's market leadership in respiratory medicine.
In July 2024, GSK acquired full control and intellectual property rights over CureVac's collaborative mRNA vaccine candidates for infectious diseases (seasonal flu and COVID-19) for up to $1.64 billion (€1.45 billion), ensuring complete strategic freedom to commercialize next-generation mRNA vaccines.
GSK focuses on targeted bolt-on acquisitions in core therapeutic areas (vaccines, specialty medicines, oncology, immunology) that offer first-in-class or best-in-class clinical profiles, clear commercial synergies, patent exclusivity through the 2030s, and high return on invested capital.
To rapidly rebuild their pharmaceutical pipeline after spinning off consumer health, GSK has executed massive, highly aggressive acquisitions. They bought Tesaro for $5.1B (oncology), Affinivax for $3.3B (vaccines), and Bellus Health for $2B to secure a highly promising chronic cough medication.
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