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Arcellx acquisition $7.8B + 3.8% dividend hike → full-year 2026 guidance $29.6-$30B

Gilead Sciences agreed to acquire Arcellx for $115 per share plus a $5 CVR, implying an $7.8 billion equity value at a 68% premium to the 30-day VWAP, expected to close in Q2 2026 and strengthen its oncology CAR-T portfolio. The company raised its quarterly cash dividend by 3.8% to $0.82 per share for Q1 2026 and reported 2025 product sales of $28.9 billion. Gilead guided 2026 product sales of $29.6–$30 billion with non-GAAP EPS of $8.45–$8.85; the stock trades near $145 with an overall analyst consensus favoring its HIV franchise and oncology pipeline.

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