Gilead completes $7.8B acquisition of Arcellx; adds anito-cel CAR T therapy for multiple myeloma

GILEAD SCIENCES, INC.

Purchase price $115/share cash plus $5 CVR (contingent on $6B anito-cel sales by end-2029); total implied equity ~$7.8B.
Tender offer accepted 38.8M shares (~77.2% of outstanding); merger completed April 28, 2026.
Expected EPS dilution of ~$5.57-$5.67 in 2026; ex-R&D, modestly dilutive 2026-27, accretive from 2028.
Full control of anito-cel eliminates profit-sharing/royalty obligations; accelerates development and commercial launch.
Arcellx becomes wholly owned subsidiary of Gilead; ACLX common stock to be delisted from Nasdaq.

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