GILD · 10-Q · 2026Q2 · Full report
Acquisition / Partnership / Divestiture
GILEAD SCIENCES, INC. · 2026-08-06 · Importance 53 · Surprise 60 · In source text
Gilead completed its acquisition of Arcellx, adding the anitocabtagene autoleucel program for relapsed or refractory multiple myeloma and a D-Domain BCMA binder. Gilead completed the Tubulis acquisition, adding TUB-040 and an antibody-drug conjugate development platform. Gilead also completed the Ouro Medicines acquisition, adding gamgertamig, a clinical-stage BCMAxCD3 T-cell engager for autoimmune diseases, with Lakefront equally sharing the upfront and contingent milestone payments. Acquired in-process research and development expense totaled $11.2 billion in the quarter and $11.3 billion for the first six months, including $7.0 billion for Arcellx, $3.1 billion for Tubulis and $1.0 billion for Ouro Medicines.
Key facts
- Acquired in-process research and development expenses for the three months ended June 30, 2026: $11,183 million. source
- Acquired in-process research and development expenses for the six months ended June 30, 2026: $11,290 million. source
- Acquired IPR&D expense of $7.0 billion related to the Arcellx acquisition recognized in three months ended June 30, 2026. source
- Acquired IPR&D expense of $3.1 billion related to the Tubulis acquisition recognized in three months ended June 30, 2026. source
- Acquired IPR&D expense of $1.0 billion related to the Ouro Medicines acquisition recognized in three months ended June 30, 2026, comprised of $1.9 billion acquisition partially offset by $860 million related to Lakefront’s share. source
- Completed the acquisition of Tubulis GmbH, adding next-generation ADC assets including TUB-040. source
- Completed the acquisition of Arcellx, Inc., which adds anito-cel and Arcellx’s D-Domain BCMA binder. source
- Completed the acquisition of Ouro Medicines, which adds gamgertamig, a clinical stage BCMAxCD3 T cell engager for autoimmune diseases, in collaboration with Lakefront Biotherapeutics NV which equally shared the upfront payment and will equally share contingent milestone payments. source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| operating_income | negative | realized | -89.7% | Acquired IPR&D expense of $7.0 billion related to the Arcellx acquisition recognized in three months ended June 30, 2026. |
| net_income | negative | realized | -89.7% | Acquired IPR&D expense of $7.0 billion related to the Arcellx acquisition recognized in three months ended June 30, 2026. |
| operating_income | negative | realized | -39.7% | Acquired IPR&D expense of $3.1 billion related to the Tubulis acquisition recognized in three months ended June 30, 2026. |
| net_income | negative | realized | -39.7% | Acquired IPR&D expense of $3.1 billion related to the Tubulis acquisition recognized in three months ended June 30, 2026. |
| operating_income | negative | realized | -12.8% | Acquired IPR&D expense of $1.0 billion related to the Ouro Medicines acquisition recognized in three months ended June 30, 2026, comprised… |
| net_income | negative | realized | -12.8% | Acquired IPR&D expense of $1.0 billion related to the Ouro Medicines acquisition recognized in three months ended June 30, 2026, comprised… |