Stock Movers Gilead Slips on Arcellx Acquisition; Merck Rallies; Domino's Rises
Feb 23, 2026
A market roundup zeroing in on major pharma moves and big premarket movers. Discussion of a large biotech acquisition and its price tag. Coverage of a major drugmaker planning to split its human-health business. Breakdown of a pizza chain’s stronger-than-expected sales and what drove its gains.
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Novo Nordisk Stock Drops After Cagrosima Trial Miss
- Novo Nordisk shares plunged about 15% after Cagrosima showed roughly 20% weight loss versus Eli Lilly's ~24% in a head-to-head trial.
- The result surprised markets because Cagrosima was expected to match Lilly ahead of Wegovy and Ozempic patent expiries.
Gilead Bolsters Cancer Pipeline With Arcellx Buyout
- Gilead agreed to buy Arcellx for $115 cash plus a $5 contingent payment, valuing the deal up to $7.8 billion.
- Gilead already owned 11.5% of Arcellx and the acquisition covers roughly 90% of remaining stock, instantly boosting its cancer immunotherapy pipeline.
Merck Splits Human Health Business To Spotlight Oncology
- Merck plans to split its human health business into two units separating oncology from other specialty pharma and infectious disease therapies.
- The oncology unit drove over $35 billion of last year's $58 billion sales and the split aims to let each business focus on diversified pipelines and late-stage studies.