A 40% premium! GlaxoSmithKline (GSK.US) plans to acquire Nuvalent (NUVL.US) for $10.6 billion, increasing its presence in the cancer drug market.

According to the Zhitong Finance and Economics APP, GlaxoSmithKline (GSK.US) has agreed to acquire the oncology drug company Nuvalent (NUVL.US) for $1.06 billion. GlaxoSmithKline announced on Tuesday that it will acquire Nuvalent for $124 per share in cash, a 40% premium over the company's closing price on Monday.