Gilead Sciences has announced a definitive agreement to acquire CAR-T therapy developer Arcellx for up to $7.8 billion, marking its largest deal since 2020. The acquisition strengthens Gilead’s oncology pipeline, giving full control of anito-cel, an investigational CAR-T therapy for multiple myeloma, while expanding beyond its core HIV and liver disease portfolio.
In a strategic move to expand its oncology footprint, Gilead Sciences will acquire Arcellx for up to $7.8 billion. The deal includes a cash offer of $115 per share plus a contingent value right of $5 per share, representing a premium of nearly 68–79% over Arcellx’s recent trading average.
Key Highlights
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Largest Deal Since 2020: Biggest acquisition since Gilead’s $21 billion purchase of Immunomedics.
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Pipeline Expansion: Provides full control of anito-cel, a CAR-T therapy for relapsed/refractory multiple myeloma.
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Financial Terms: $115/share in cash plus $5/share CVR tied to sales milestones.
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Strategic Diversification: Strengthens oncology portfolio as COVID-19 drug sales decline and patent expirations loom.
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Market Reaction: Arcellx shares surged nearly 78% post-announcement, while Gilead dipped slightly.
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Future Outlook: Transaction expected to close in Q2 2026, with earnings accretive from 2028 onwards.
This acquisition underscores Gilead’s ambition to become a dominant player in cell therapy and oncology, positioning itself for long-term growth in cancer treatments.
Sources: Business Standard, CNBC, The Economic Times, PharmExec