Gilead Completes $7.8 Billion Acquisition of Arcellx

Gilead Sciences has completed its acquisition of Arcellx, moving to consolidate ownership of an experimental CAR‑T therapy for multiple myeloma as it readies a potential U.S. launch.

Under the deal, Gilead paid $115 a share in cash plus a nontransferable $5 contingent value right tied to future sales, valuing Arcellx at about $7.8 billion at closing. The transaction gives Gilead full control of anitocabtagene autoleucel, or anito‑cel, a BCMA‑targeted CAR‑T therapy under regulatory review.

Arcellx shareholders will receive the contingent payment if anito‑cel generates at least $6 billion in cumulative global net sales through 2029. Arcellx becomes a wholly owned Gilead subsidiary and its shares will be delisted from Nasdaq.

Gilead said the acquisition is expected to be modestly dilutive to earnings in the near term and accretive beginning in 2028, subject to FDA approval of the therapy.

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