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Gilead to Acquire Arcellx for $7.8 Billion, Boosting Future Earnings

2/23/2026

24 2 Full Breakdown

Summary

Story summary

Gilead Sciences Inc. will acquire Arcellx Inc. for up to $7.8 billion, paying $115 per share in cash, a 79% premium over Arcellx's last close.
The deal includes a $5 per share contingent payment tied to future sales of experimental therapy anito-cel for multiple myeloma.
The FDA will decide on anito-cel by December 23.
Analysts expect Gilead's earnings to grow by 2028 as the deal closes in Q2 2026.

History

Historical Context

Gilead Sciences, founded in 1987, shifted its focus to antiviral drugs in the early 2000s, achieving significant success with Sovaldi, approved in 2013 for hepatitis C. This drug generated over $10 billion in revenue, prompting Gilead to expand into oncology through its $7.8 billion acquisition of Arcellx, aiming to replicate its past successes as it approaches FDA decisions on new therapies.

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Story summary

Gilead Sciences Inc. will acquire Arcellx Inc. for up to $7.8 billion, paying $115 per share in cash, a 79% premium over Arcellx's last close.
The deal includes a $5 per share contingent payment tied to future sales of experimental therapy anito-cel for multiple myeloma.
The FDA will decide on anito-cel by December 23.
Analysts expect Gilead's earnings to grow by 2028 as the deal closes in Q2 2026.

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