GlaxoSmithKline headquarters in London on Jan. 17, 2022. Hannah Mckay | Reuters UK pharmaceutical group GSK is in talks to acquire oncology biotech Nuvalent for more than $9 billion, in what would be the British drugmaker's largest acquisition in more than a decade, the Financial Times reported Tuesday. The companies have been in discussions with the aim of finalizing a deal as early as this week,...
GlaxoSmithKline headquarters in London on Jan. 17, 2022. Hannah Mckay | Reuters UK pharmaceutical group GSK is in talks to acquire oncology biotech Nuvalent for more than $9 billion, in what would be the British drugmaker's largest acquisition in more than a decade, the Financial Times reported Tuesday. The companies have been in discussions with the aim of finalizing a deal as early as this week, the FT reported, citing people familiar with the matter. Representatives for GSK and Nuvalent did not respond to CNBC's requests for comment. Both sides have yet to reach a final agreement and the talks could still fall apart over last-minute hurdles, according to the report. A potential deal could value Nuvalent at between $9 billion and $10 billion, representing a premium of roughly 29% to 43% over the biotech company's market capitalization of nearly $7 billion at Monday's close. Stock Chart Icon Stock chart icon GSK Plc The deal would be the second largest acquisition in GSK's history, the FT reported, trailing its 2014 asset swap with Novartis in which it assumed control of the Swiss drugmaker's vaccines division in a transaction valued at $20 billion. It would also mark a notable departure from the company's focus on smaller transactions in recent years. GSK chief executive Luke Miels, who took over the job from longtime boss Emma Walmsley at the start of the year, told investors in February that he would focus on transactions in the £2 billion to £4 billion range that were "hiding in plain sight." Miels has been tasked with overhauling a company that has struggled to allay investor concerns about its drug pipeline . GSK's share price has climbed roughly 29% since Miels' appointment was announced in September . Nuvalent's lead asset, neladalkib — a therapy that targets certain types of lung cancer — is currently undergoing FDA review with a deadline of Nov. 27. The company also has a new drug application for zidesamtinib, for patients with a type of cancer known as R...
Get up to speed with key market intelligence, news and insight before trading starts each day in this fast-growing economy with the Markets Daily India newsletter. Sign up here . The Reserve Bank of India will offer state-run firms a concessional foreign exchange swap facility, allowing them to hedge overseas borrowings at roughly half of the prevailing market costs, according to some analysts. Th...
Get up to speed with key market intelligence, news and insight before trading starts each day in this fast-growing economy with the Markets Daily India newsletter. Sign up here . The Reserve Bank of India will offer state-run firms a concessional foreign exchange swap facility, allowing them to hedge overseas borrowings at roughly half of the prevailing market costs, according to some analysts. The swap will be undertaken at a fixed rate of 1.5% a year for an average maturity of three years and above, the central bank said in a statement Monday. The details came after the RBI announced the facility on Friday as part of its efforts to boost capital inflows into the country. The move aims to make overseas funding more attractive at a time when the RBI is looking to ease pressure on the rupee after it hit a new low against the dollar last month. “The current forward premium is between 2.5-3%, so the RBI’s rate works out to be around half of that,” said Anindya Banerjee , head of research for currencies, commodities and interest rates at Kotak Securities. The discounted rate will encourage overseas borrowings by lowering costs, he said. The facility will be available for new borrowings raised through Dec. 31 and remain open until Jan. 15. Under the swap, banks acting as forex intermediaries can sell dollars in multiples of $1 million to the RBI with an agreement to buy these back when the swap matures. Read More: India’s RBI Says Banks Can Avail Swap Facility Only in Dollars
Brigg, Lincolnshire: With harvest approaching, we’re putting the glorious long evenings to good use, and both humans and insects are working hard to protect the crops There’s something magical about the long evenings in June, the warmth and the way the setting sun casts long shadows across the fields. The extra hours are much-needed though as there is plenty to do. We’re in the run-up to harvest i...
Brigg, Lincolnshire: With harvest approaching, we’re putting the glorious long evenings to good use, and both humans and insects are working hard to protect the crops There’s something magical about the long evenings in June, the warmth and the way the setting sun casts long shadows across the fields. The extra hours are much-needed though as there is plenty to do. We’re in the run-up to harvest in July, so if the weather is dry we walk up and down the seed crop tramlines, pulling out (rouging) unwanted wild oats, brome and blackgrass. They drop seeds that could contaminate not only our ground, but potentially someone else’s. Strict numbers govern how many of such plants are allowed per hectare in a seed crop, and independent inspectors check the results. Government officials in the Animal and Plant Health Agency will even walk the higher quality seed crops. Continue reading...
We're just days away from the SpaceX IPO . The company is reportedly targeting a $1.77 trillion valuation, which would make it one of the largest public debuts in history. If its valuation target is reached, the company aims to raise as much as $75 billion in capital. That's enough to fund truly groundbreaking growth initiatives, everything from orbital data centers to a human base on the moon. Th...
We're just days away from the SpaceX IPO . The company is reportedly targeting a $1.77 trillion valuation, which would make it one of the largest public debuts in history. If its valuation target is reached, the company aims to raise as much as $75 billion in capital. That's enough to fund truly groundbreaking growth initiatives, everything from orbital data centers to a human base on the moon. There are plenty of reasons to believe SpaceX will reach its intended valuation. "We believe we have identified the largest actionable total addressable market in human history," SpaceX claims in a recent regulatory filing . "We estimate that our quantifiable TAM is $28.5 trillion." There are also reasons to believe shares could struggle out of the gate. "We think the company has been significantly overvalued and investors will have opportunities to buy the stock at more attractive levels after the IPO," an analyst from Morningstar recently warned. "[L]ong-term investors eager to participate in SpaceX's future endeavors and potential success will have opportunities to do so with a greater margin of safety than the initial offering is likely to provide." Continue reading
Infinitum Copper ( INUMF ) has announced the cancellation of its previously proposed $1.82M private placement, which was originally unveiled on May 5, 2026. Management cited a lack of sufficient investor interest as the primary driver behind terminating the offering. Moving forward, the exploration-stage company stated it will actively evaluate alternative funding opportunities and capital-raising...
Infinitum Copper ( INUMF ) has announced the cancellation of its previously proposed $1.82M private placement, which was originally unveiled on May 5, 2026. Management cited a lack of sufficient investor interest as the primary driver behind terminating the offering. Moving forward, the exploration-stage company stated it will actively evaluate alternative funding opportunities and capital-raising structures to support its future operations. More on Infinitum Copper Corp. Financial information for Infinitum Copper Corp.
Malaysia Semiconductor Industry Association President Wong Siew Hai believes the country's semiconductor exports can hit about $200 billion this year. He speaks with Haslinda Amin from the sidelines of 'Invest Malaysia' in Kuala Lumpur. (Source: Bloomberg)
Malaysia Semiconductor Industry Association President Wong Siew Hai believes the country's semiconductor exports can hit about $200 billion this year. He speaks with Haslinda Amin from the sidelines of 'Invest Malaysia' in Kuala Lumpur. (Source: Bloomberg)
Hong Kong’s leader has pledged to exercise prudence and seriousness when defining national security offences under newly proposed legislation, dismissing concerns about a centralisation of power and stressing that the process often involves “state players” and highly sensitive information. Chief Executive John Lee Ka-chiu also said on Tuesday that the subsidiary legislation, which introduces a cla...
Hong Kong’s leader has pledged to exercise prudence and seriousness when defining national security offences under newly proposed legislation, dismissing concerns about a centralisation of power and stressing that the process often involves “state players” and highly sensitive information. Chief Executive John Lee Ka-chiu also said on Tuesday that the subsidiary legislation, which introduces a classification mechanism for “other offences endangering national security” under the city’s domestic...