GSK buys Tesaro (2018)
GSK paid $5.1 billion for Tesaro, a Massachusetts cancer biotech, to re-enter oncology three years after selling most of that business to Novartis. The deal centered on Zejula, an ovarian cancer drug. Investors initially questioned the price.
GSK shares fell on the announcement as analysts called the price steep for a single lead drug.
The deal anchored GSK's return to cancer drugs and set the template for buying late-stage assets rather than building from scratch.
Nuvalent is the same playbook at twice the scale: buy a Massachusetts oncology biotech with near-market drugs to rebuild a portfolio GSK once walked away from.
