Morningstar

Gilead Sciences to Buy Arcellx in Deal Valuing Biotech at $7.8 Billion

Provided by Dow Jones

By Colin Kellaher 




  Gilead Sciences has agreed to buy the rest of development partner Arcellx in a deal that values the biotechnology company at about $7.8 billion at closing. 



  Gilead on Monday said it will pay an initial $115 a share in cash for the 88.5% of Arcellx it doesn't already own, a 79% premium to Friday's closing price of $64.11 for the Redwood City, Calif., company. 



  Arcellx investors will also receive non-transferable contingent value rights worth an additional $5 a share based on future sales of anitocabtagene autoleucel, or anito-cel, an investigational CAR T-cell therapy for patients with the blood cancer multiple myeloma. 



  Foster City, Calif., biopharmaceutical company Gilead and Arcellx in 2022 struck a deal to co-develop and co-commercialize anito-cel. 



  Gilead said it expects to complete the acquisition during the second quarter. 





  Write to Colin Kellaher at colin.kellaher@wsj.com 





  (END) Dow Jones Newswires



  February 23, 2026 06:33 ET (11:33 GMT)


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