A Gilead Sciences office is shown in Foster City, California, U.S. May 1, 2018.<\/p>\n
Stephen Lam | Reuters<\/p>\n
Gilead Sciences<\/a> said on Monday it \u2060will buy cancer therapy partner Arcellx<\/a> for an implied equity \u200bvalue of $7.8 \u200bbillion, expanding \u200btheir cell therapy development collaboration that started in 2022.<\/p>\n Shares of Arcellx climbed 77.8% to $113.99 while \u2060Gilead fell \u200cabout 1% in premarket \u2060trading.<\/p>\n Gilead will pay $115 per share in cash at the deal’s closing, which is at a premium of 79% \u200cto the stock’s last close.<\/p>\n Kite Pharma, a unit of Gilead Sciences, \u200bwas partnering with Arcellx to jointly develop and sell anito-cel, an experimental CAR-T therapy for multiple myeloma, a type \u2060of blood cancer.<\/p>\n CAR-T cell therapy is a cancer treatment \u200cthat uses a patient’s own \u200cgenetically modified immune cells to find and kill cancer cells.<\/p>\n The U.S. Food and Drug Administration is \u2060currently reviewing the therapy, with a decision expected \u2060by December 23 this year.<\/p>\n Upon FDA \u2060approval of anito-cel, the proposed transaction is expected to be accretive to earnings \u200bper share in \u200c2028 and thereafter.<\/p>\n Gilead will also pay Arcellx shareholders $5 per share, contingent upon the achievement of cumulative global net sales of anito-cel of at least $6 \u200bbillion from launch through \u200cyear-end 2029. <\/p>\n","protected":false},"excerpt":{"rendered":"A Gilead Sciences office is shown in Foster City, California, U.S. May 1, 2018. Stephen Lam | Reuters…\n","protected":false},"author":2,"featured_media":352241,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[275],"tags":[165294,11589,207,18,6945,135,475,11588,474,19,17,201,200,165295],"class_list":{"0":"post-352240","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-healthcare","8":"tag-arcellx-inc","9":"tag-biotech-and-pharmaceuticals","10":"tag-business-news","11":"tag-eire","12":"tag-gilead-sciences-inc","13":"tag-health","14":"tag-health-care","15":"tag-health-care-industry","16":"tag-healthcare","17":"tag-ie","18":"tag-ireland","19":"tag-ishares-biotechnology-etf","20":"tag-spdr-sp-biotech-etf","21":"tag-vaneck-biotech-etf"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@ie\/116120597453166966","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts\/352240","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/comments?post=352240"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts\/352240\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/media\/352241"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/media?parent=352240"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/categories?post=352240"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/tags?post=352240"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}