Six months into his tenure, Luke Miels steered GSK into its largest biotech purchase in a quarter‑century, sealing a $10.6bn agreement for US cancer specialist Nuvalent. The transaction adds two late‑stage lung‑cancer candidates that Miels touts as “best in class,” and marks a clear pivot toward a heavier oncology focus.

The deal arrives as GSK battles eroding patents on top sellers like its HIV drug dolutegravir, which contributed roughly 20% of last year’s revenue. By bolstering its pipeline, the group hopes to hit a £40bn annual sales target by 2031, offsetting the looming revenue gap. Analysts note the move narrows the gap with rivals such as AstraZeneca, which has long dominated cancer therapy.

Investors have rewarded the bold strategy, with GSK shares climbing more than 8% since Miels took the helm. Insiders describe him as low‑ego, decisive and intent on rapid execution rather than elaborate planning. The Nuvalent acquisition proves his willingness to make headline‑grabbing bets, and the market now watches whether the new assets can deliver the growth GSK urgently needs.