Gilead Sciences said on Monday it will buy cancer therapy partner Arcellx for an implied equity value of $7.8 billion.
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Gilead Sciences
said on Monday it will buy cancer therapy partner Arcellx
for an implied equity value of $7.8 billion, expanding their cell therapy development collaboration that started in 2022.
Shares of Arcellx climbed 77.8% to $113.99 while Gilead fell about 1% in premarket trading.
Deal comes as pharmaceutical groups rush to acquire smaller biotech firms with proven drug pipelines
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