Gilead Sciences agreed to acquire Arcellx for $7.8 billion to secure full control of anito‑cel, the BCMA‑directed CAR‑T therapy the companies have been co‑developing. The deal consolidates development and commercialization rights ahead of a pending Biologics License Application and a PDUFA target decision in December 2026. Arcellx’s pivotal iMMagine1 data and anito‑cel’s positioning as a potential fourth‑line myeloma therapy were central to Gilead’s valuation. The transaction eliminates profit‑share mechanics from the earlier Kite‑Arcellx collaboration and signals Gilead’s intent to fortify its cell‑therapy franchise against Johnson & Johnson/Legend’s Carvykti and other BCMA competitors. Market reaction was immediate: Arcellx shares surged on the premium offer while Gilead absorbed the near‑term financing and regulatory risk to own a late‑stage cell therapy program outright.