Big Deal Targeting Multiple Myeloma CAR-T: Gilead Completes Acquisition Worth 8 Trillion Won

Gilead Sciences, Inc. (NASDAQ: GILD) on April 28 completed its acquisition of Arcellx to secure anitocabtagene autoleucel, a BCMA-targeted CAR-T therapy candidate for multiple myeloma. Under the deal, Arcellx shareholders will receive $115 in cash per share plus $5 in contingent value rights, valuing the transaction at approximately $7.8 billion (about KRW 10 trillion). Following Arcellx’s delisting from Nasdaq, it will become a wholly owned subsidiary of Gilead. Gilead will only pay the contingent value rights if anitocabtagene autoleucel achieves cumulative sales of at least $6 billion (roughly KRW 8 trillion) by the end of 2029. The company will treat the acquisition as the purchase of an R&D asset, which it expects to temporarily reduce EPS in 2026 before contributing positively to earnings from 2028 onward.

Gilead has also announced plans to release its first-quarter 2026 financial results and guidance after market close on May 7. Earlier, its board approved a 3.8% increase in the quarterly dividend, effective with the first quarter of 2026.

Headquartered in California, Gilead is a major biopharmaceutical company known for its HIV and hepatitis treatments and is diversifying its growth by expanding its oncology pipeline. Across the global pharma industry, competition for cell and gene therapies—particularly CAR-T—is intensifying, and Gilead’s recent acquisition activity underscores its strategic shift toward oncology.