{"id":58959,"date":"2026-02-23T07:38:34","date_gmt":"2026-02-23T11:38:34","guid":{"rendered":"https:\/\/stockmarketwatch.com\/stock-market-news\/boe-warns-of-inflation-undershoot-as-gilead-inks-7-8b-arcellx-deal-and-merck-reorganizes\/58959\/"},"modified":"2026-02-23T07:38:34","modified_gmt":"2026-02-23T11:38:34","slug":"boe-warns-of-inflation-undershoot-as-gilead-inks-7-8b-arcellx-deal-and-merck-reorganizes","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/boe-warns-of-inflation-undershoot-as-gilead-inks-7-8b-arcellx-deal-and-merck-reorganizes\/58959\/","title":{"rendered":"BoE Warns of Inflation Undershoot as Gilead Inks $7.8B Arcellx Deal and Merck Reorganizes"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_82_2 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/boe-warns-of-inflation-undershoot-as-gilead-inks-7-8b-arcellx-deal-and-merck-reorganizes\/58959\/#Key_Takeaways\" >Key Takeaways<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/boe-warns-of-inflation-undershoot-as-gilead-inks-7-8b-arcellx-deal-and-merck-reorganizes\/58959\/#BoE_Signals_Shift_Toward_Rate_Normalization\" >BoE Signals Shift Toward Rate Normalization<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/boe-warns-of-inflation-undershoot-as-gilead-inks-7-8b-arcellx-deal-and-merck-reorganizes\/58959\/#Gilead_Bolsters_Oncology_Portfolio_with_78B_Acquisition\" >Gilead Bolsters Oncology Portfolio with $7.8B Acquisition<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/boe-warns-of-inflation-undershoot-as-gilead-inks-7-8b-arcellx-deal-and-merck-reorganizes\/58959\/#Merck_Restructures_Ahead_of_Keytruda_Patent_Cliff\" >Merck Restructures Ahead of Keytruda Patent Cliff<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/boe-warns-of-inflation-undershoot-as-gilead-inks-7-8b-arcellx-deal-and-merck-reorganizes\/58959\/#Dominos_Beats_Estimates_with_%22Hungry_for_MORE%22_Strategy\" >Domino\u2019s Beats Estimates with &quot;Hungry for MORE&quot; Strategy<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/boe-warns-of-inflation-undershoot-as-gilead-inks-7-8b-arcellx-deal-and-merck-reorganizes\/58959\/#EU_Navigates_Trade_Volatility_and_Ukraine_Aid\" >EU Navigates Trade Volatility and Ukraine Aid<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Key_Takeaways\"><\/span>Key Takeaways<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ul>\n<li><strong>Bank of England policymaker Alan Taylor warns of a potential inflation undershoot<\/strong>, signaling that <strong>two to three more interest rate cuts<\/strong> may be required to reach a neutral level.<\/li>\n<li><strong>Gilead Sciences (<a href=\"\/stock\/GILD\">GILD<\/a>) has entered a definitive agreement to acquire Arcellx (<a href=\"\/stock\/ACLX\">ACLX<\/a>)<\/strong> for an implied equity value of <strong>$7.8 billion<\/strong>, paying <strong>$115 per share in cash<\/strong> to secure full control of the promising cancer therapy Anito-cel.<\/li>\n<li><strong>Merck (<a href=\"\/stock\/MRK\">MRK<\/a>) is reorganizing its human health business into two separate divisions<\/strong> to protect its portfolio ahead of the <strong>2028 patent expiration<\/strong> for its blockbuster cancer drug, Keytruda.<\/li>\n<li><strong>Domino\u2019s Pizza (<a href=\"\/stock\/DPZ\">DPZ<\/a>) reported Q4 revenue of $1.54 billion<\/strong>, surpassing analyst estimates of $1.52 billion, driven by <strong>3.7% U.S. same-store sales growth<\/strong>.<\/li>\n<li><strong>EU Trade Commissioner Maro\u0161 \u0160ef\u010dovi\u010d is meeting with G7 trade ministers<\/strong> to address a &quot;permanent&quot; U.S. high-tariff regime that officials expect to impact global trade for years.<\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"BoE_Signals_Shift_Toward_Rate_Normalization\"><\/span>BoE Signals Shift Toward Rate Normalization<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Bank of England (BoE) policymaker <strong>Alan Taylor<\/strong> stated Monday that the risks to the UK economy are shifting from persistent inflation to a <strong>potential inflation undershoot<\/strong> and rising cyclical unemployment. Taylor noted that he has become more reassured that inflation is normalizing at a reasonable pace, though he cautioned that <strong>services CPI remains a slight concern<\/strong> after failing to fall as quickly as hoped.<\/p>\n<p>The central bank official indicated that the BoE is approaching a neutral interest rate level but is &quot;not there yet,&quot; suggesting that <strong>two or three additional rate cuts<\/strong> are likely on the horizon. Taylor also warned that the <strong>U.S. high-tariff regime is &quot;here to stay&quot;<\/strong> and represents a multi-year trade shock that the bank must monitor closely.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Gilead_Bolsters_Oncology_Portfolio_with_78B_Acquisition\"><\/span>Gilead Bolsters Oncology Portfolio with $7.8B Acquisition<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Gilead Sciences (<a href=\"\/stock\/GILD\">GILD<\/a>) announced a major expansion of its cell therapy footprint by agreeing to acquire its partner Arcellx (<a href=\"\/stock\/ACLX\">ACLX<\/a>). Under the terms of the deal, Gilead will pay <strong>$115 per share in cash<\/strong>, a significant premium that values the biotech firm at approximately <strong>$7.8 billion<\/strong>. Shareholders are also eligible for a <strong>$5 per share contingent value right (CVR)<\/strong> based on future sales milestones.<\/p>\n<p>The acquisition gives Gilead full control over <strong>Anito-cel<\/strong>, a late-stage CAR T-cell therapy for relapsed or refractory multiple myeloma. The deal is expected to be <strong>accretive to earnings per share (EPS) starting in 2028<\/strong>, as it eliminates future milestone and royalty payments previously owed under their 2022 collaboration agreement.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Merck_Restructures_Ahead_of_Keytruda_Patent_Cliff\"><\/span>Merck Restructures Ahead of Keytruda Patent Cliff<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Merck (<a href=\"\/stock\/MRK\">MRK<\/a>) is proactively overhauling its leadership and corporate structure by <strong>splitting its human health business into two distinct units<\/strong>. One division will focus exclusively on <strong>oncology<\/strong>, housing the blockbuster drug Keytruda, while the second will manage <strong>specialty pharmaceuticals, vaccines, and infectious diseases<\/strong>.<\/p>\n<p>The reorganization is a strategic move to mitigate the impact of the <strong>2028 loss of U.S. market exclusivity for Keytruda<\/strong>, which currently accounts for nearly half of the company&#39;s total sales. By separating these units, Merck aims to sharpen its focus on its internal pipeline and diversify its revenue streams before lower-priced biosimilar competition enters the market.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Dominos_Beats_Estimates_with_%22Hungry_for_MORE%22_Strategy\"><\/span>Domino\u2019s Beats Estimates with &quot;Hungry for MORE&quot; Strategy<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Domino\u2019s Pizza (<a href=\"\/stock\/DPZ\">DPZ<\/a>) delivered a strong fourth-quarter performance, reporting <strong>revenue of $1.54 billion<\/strong> against the $1.52 billion expected by Wall Street. The company saw <strong>U.S. same-store sales grow by 3.7%<\/strong>, while international same-store sales increased by 0.7%, marking a <strong>32nd consecutive year of international growth<\/strong>.<\/p>\n<p>CEO Russell Weiner attributed the results to the company&#39;s <strong>&quot;Hungry for MORE&quot; strategy<\/strong>, which emphasizes menu innovation and digital platform upgrades. Despite the revenue beat, the company\u2019s <strong>net income of $181.6 million<\/strong> was slightly below the $182.3 million consensus estimate, though the board approved a <strong>15% increase in the quarterly dividend to $1.99 per share<\/strong>.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"EU_Navigates_Trade_Volatility_and_Ukraine_Aid\"><\/span>EU Navigates Trade Volatility and Ukraine Aid<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The European Union is seeking a return to &quot;stability and predictability&quot; as it grapples with <strong>new 15% global tariffs<\/strong> proposed by the U.S. administration. Commissioner <strong>Maro\u0161 \u0160ef\u010dovi\u010d<\/strong> is scheduled to meet with G7 trade ministers and EU envoys to discuss a coordinated response to the trade shock, which has already led to the <strong>freezing of some ratification processes<\/strong> for transatlantic trade deals.<\/p>\n<p>Separately, the EU Commission is putting pressure on <strong>Hungary\u2019s PM Viktor Orban<\/strong> to honor political commitments regarding a <strong>\u20ac90 billion loan to Ukraine<\/strong>. Officials warned that failing to respect the agreement would constitute a <strong>&quot;breach of loyal cooperation,&quot;<\/strong> even as Ukraine reported restoring control over <strong>400 square kilometers of territory<\/strong> in its latest military offensive.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways Bank of England policymaker Alan Taylor warns of a potential inflation undershoot, signaling that two to three more 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