Summary of Key Points from Conference Call Industry Overview - The conference call discusses the global business development (BD) activities in the pharmaceutical sector during the Chinese New Year period from February 13 to February 23, 2026, highlighting a total of 18 BD transactions globally [1] Core Insights and Arguments - **Key Transactions**: - Qinhai Bio licensed its MAT2A inhibitor (GH31), which has received IND approval in China and the US and is currently in Phase I clinical trials, to Gilead. Qinhai will receive an upfront payment of $80 million, $1.45 billion in milestone payments, and a tiered double-digit percentage royalty based on net sales [1] - Other notable transactions include: - Novartis partnered with Unnatural Products to develop macrocyclic peptide drugs, focusing on cardiovascular applications, with Unnatural Products receiving an upfront payment of $100 million and potential milestone payments of $1.7 billion [1] - Eli Lilly acquired global rights for the IL6 monoclonal antibody clazakizumab from CSL for all indications except end-stage renal disease, with CSL receiving an upfront payment of $100 million [1] - Merck collaborated with Mayo Clinic to integrate clinical and genomic data, focusing on early research translation in inflammatory bowel disease, skin diseases, and neurology [1] - **Year-to-Date Transactions**: - From January 1 to February 23, 2026, there have been 36 BD transactions involving Chinese companies, with 13 of these transactions involving multinational corporations (MNCs) [1] Additional Important Insights - **Comparison with Previous Year**: - In comparison, there were 26 BD transactions during the same period in 2025, with only 3 involving MNCs [2] - **Future Outlook**: - The analysis indicates that MNCs have increased their focus on Chinese BD teams and asset searches since the second half of 2025, suggesting a positive outlook for more BD transactions involving Chinese assets and MNCs in 2026 [2]

Transaction expected to be accretive to earnings per share from 2028 onwards.Deal provides full control of anito-cel, an investigational CAR-T therapy for multiple myeloma.Gilead Moves Into CAR-T Oncology With Arcellx AcquisitionGilead Sciences just made a big move, announcing a $7.8 billion deal to buy Arcellx. It’s their biggest acquisition since 2020, signaling they’re serious about moving beyond just HIV and liver disease treatments.Arcellx shares shot up right after the news. Gilead’s offering $115 per ...

Core Insights - Arcellx shares surged approximately 80% following the announcement of its acquisition by Gilead Sciences for $115 per share in cash, plus a contingent value right of $5 per share, totaling around $7.8 billion [1][1][1] Company Overview - Arcellx's stock price increased from $64.11 to around $114 after the acquisition news, marking a significant rise and reaching new highs beyond late-2024 record levels [1][1][1] - The acquisition is expected to close in the second quarter, indicating a swift transition for Arcellx under Gilead's ownership [1][1][1] Industry Context - The merger and acquisition (M&A) activity in the biotech sector can expedite drug development timelines, providing quicker returns for investors compared to traditional pathways [1][1][1] - Gilead and Arcellx were already collaborating on the development of anito-cel, a treatment for multiple myeloma, which underscores the strategic rationale behind the acquisition [1][1][1] - Gilead's CEO expressed confidence in the potential of anito-cel, suggesting it could become a foundational treatment for multiple myeloma over time [1][1][1]

Gilead has agreed to acquire Arcellx in a deal worth $7.8bn, as the drugmaker looks to add a CAR T-cell therapy for blood cancer treatment on the cusp of approval to its portfolio. As per the agreement, Gilead will pay $115 per share, as well as a one contingent value right of $5 each. The deal is expected to close in Q2 2026. The acquisition marks the culmination of a period of collaboration between the two companies. In 2022, Gilead, via its subsidiary Kite, entered a research and development partners ...

联合航空跌1.7%、美国航空跌1.1%、达美航空跌1.5%，受特大暴风雪影响，航空公司被迫在全美范围 内取消航班。Arcellx涨78.1%，吉利德科学将以每股115美元的价格收购Arcellx。诺和诺德跌15.6%，其 减肥药CagriSema试验效果不及礼来的竞品，礼来涨4.8%。达美乐披萨涨6.0%，Q4营收超预期。 来源：滚动播报 ...

The most talked about and market moving research calls around Wall Street are now in one place. Here are today's research calls that investors need to know, as compiled by The Fly.Top 5 Upgrades: Baird upgraded Henry Schein (HSIC) to Outperform from Neutral with a price target of $100, up from $78. The firm believes the bias across its dental names remains to the upside.UBS upgraded BlackRock (BLK) to Buy from Neutral with a $1,280 price target. The upgrade is supported by strong Q4 results, positive comme ...

Company Overview - Proactive is a financial news and online broadcast organization that provides fast, accessible, informative, and actionable business and finance news content to a global investment audience [2] - The company operates across key finance and investing hubs with offices in London, New York, Toronto, Vancouver, Sydney, and Perth [2] Content Production - Proactive's editorial team produces approximately 50,000 pieces of real-time news, feature articles, and filmed interviews annually [1] - The content covers a wide range of topics, including medium and small-cap markets, blue-chip companies, commodities, biotech and pharma, mining and natural resources, battery metals, oil and gas, crypto, and emerging digital and EV technologies [3] Technology Utilization - Proactive is committed to adopting technology to enhance workflows, utilizing automation and software tools, including generative AI, while ensuring all content is edited and authored by humans [4][5]

微信编辑 | 格蕾丝 2月23日，吉利德科学公司表示，拟78亿美元收购癌症细胞疗法公司Arcellx。该消息宣布后，Arcellx股 价上涨近80%。此前，吉利德科学公司旗下Kite Pharma与Arcellx合作，共同开发并销售一种用于多发性 骨髓瘤的实验性CAR-T疗法。 ...

Core Viewpoint - Gilead Sciences has agreed to acquire the remaining shares of Arcellx, valuing the deal at $7.8 billion, leading to a significant increase in Arcellx's share price towards a new record [1] Company Summary - Gilead Sciences is expanding its portfolio by purchasing the remaining equity of Arcellx, a biotechnology company, indicating a strategic move to enhance its market position [1] - Arcellx's shares experienced a notable surge in early trading, reflecting positive investor sentiment following the acquisition announcement [1]

Core Viewpoint - South Korea has partially won its challenge against an arbitration ruling related to the 2015 merger of two Samsung affiliates, with the court overturning part of the award that required the government to pay approximately $100 million to Elliott [1][2]. Group 1: Arbitration Case Details - The arbitration award was issued by the Permanent Court of Arbitration in 2023, ordering South Korea to pay Elliott around $100 million [1]. - Elliott's lawsuit focused on the involvement of South Korea's National Pension Service in approving the $8 billion merger between Samsung C&T and Cheil Industries, where Elliott was a minority stakeholder [2]. - The High Court initially rejected South Korea's challenge regarding the tribunal's jurisdiction under a free trade agreement with the U.S., but the Court of Appeal later allowed South Korea's appeal [2]. Group 2: Court Rulings and Implications - Judge David Foxton overturned part of the arbitration award concerning the National Pension Service's vote in favor of the merger [2]. - The judge stated that Elliott's claims related to the actions of the administration of former President Park Geun-hye should be sent back to the arbitration tribunal for further consideration [2]. - The South Korean government described the ruling as a "valuable victory" [2].