Deep underneath Singapore’s northeastern district of Punggol, a 5km (three-mile) network of metal pipes roars as it pumps chilled water to cool offices and classrooms overhead. The 140-year-old concept known as district cooling uses less electricity than centralised air conditioners – a major advantage for a resource-starved tropical island-nation that has to import nearly all its energy and where...
Deep underneath Singapore’s northeastern district of Punggol, a 5km (three-mile) network of metal pipes roars as it pumps chilled water to cool offices and classrooms overhead. The 140-year-old concept known as district cooling uses less electricity than centralised air conditioners – a major advantage for a resource-starved tropical island-nation that has to import nearly all its energy and where temperatures are rising twice as fast as the global average. The city state has laid pipes beneath...
GSK Plc is in discussions to purchase cancer treatment maker Nuvalent Inc. for between $9 billion and $10 billion, the Financial Times reported , citing unidentified people familiar with the matter. The firms were locked in talks late Monday with the goal of reaching an agreement as soon as this week, though the discussions could still fall apart altogether due to last-minute hurdles, the paper sa...
GSK Plc is in discussions to purchase cancer treatment maker Nuvalent Inc. for between $9 billion and $10 billion, the Financial Times reported , citing unidentified people familiar with the matter. The firms were locked in talks late Monday with the goal of reaching an agreement as soon as this week, though the discussions could still fall apart altogether due to last-minute hurdles, the paper said. The deal would be a hefty premium on Cambridge, Massachusetts-based Nuvalent’s market capitalization of nearly $7 billion. It would be one of GSK’s biggest-ever purchases, according to the FT. GSK and Nuvalent didn’t immediately respond to requests for comment from the FT. The Nuvalent report comes as new Chief Executive Officer Luke Miels works to revitalize GSK, with analysts previously saying he could look to implement an efficiency program while boosting deals to flesh out the company’s pipeline of new drugs. The British drugmaker isn’t known as a risk-taking company, and has long struggled to allay investors’ fears about its pipeline. It only recently returned to oncology after abandoning the field for years. In January, GSK agreed to a $2.2 billion deal to buy US biotech Rapt Therapeutics , which develops treatments for inflammatory and immunologic diseases. The firm secured a pulmonary hypertension drug in another transaction. GSK also plans five simultaneous late-stage trials for a cancer drug it hopes will be a blockbuster, Bloomberg reported in April. Read More: GSK Follows Oncology Rivals’ Playbook in Search of Growth