* Deal values Nuvalent ( NUVL ) at $124 per share, a 40% premium to

last close

* CEO Luke Miels says acquisition expands lung cancer

treatments

* GSK expects deal to contribute to sales and operating

profit from 2027

(Adds detail on deal and context from paragraph 3)

June 9 (Reuters) - British drugmaker GSK on Tuesday

agreed to acquire U.S.-listed cancer drug developer Nuvalent ( NUVL )

for $10.6 billion to boost its lung cancer portfolio.

The all-cash deal values Nuvalent ( NUVL ) at approximately $124 per

share, a 40% premium to its last closing price.

GSK's CEO Luke Miels has been tasked with convincing

investors that the drugmaker can hit a revenue target of more

than £40 billion by 2031, boost its drug pipeline and navigate

the looming 2028 patent expiry of its HIV medicine dolutegravir.

Miels said the deal offers "significant new treatment

options" for lung cancer patients and creates a platform to

expand with Ris-Rez, GSK's experimental antibody-drug conjugate

in late-stage testing.

Net of cash acquired, GSK's aggregate investment is

estimated to be $9.4 billion, the British company said, adding

that the deal is expected to add to sales and operating profit

in 2027 and core earnings per share in 2029.