GSK agreed to buy Nuvalent, a cancer drug developer, in a deal worth $10.6 billion, as the company continues its expansion in oncology

Lilly disclosed new data that provide more details on the safety and tolerability of its next-generation obesity drug retatrutide

The deal comes at a time of biotech dealmaking frenzy, driven by looming patent cliffs, newly buoyant public markets and drugmakers' race to bolster pipelines.

GSK is in negotiations to acquire cancer biotech Nuvalent for over $9 billion amid a surge in biotech mergers.

British pharmaceutical giant GSK has announced a massive $10.6 billion deal to acquire Nuvalent. This Boston-based company specializes in cancer treatments. The acquisition…