$book is a 7kb string. If this query is executed using PHP PDO exec, the monograph column (LONGTEXT) data gets truncated at 6765 chara
It turned out to be that it is encoding issue. The are two solutions. The most obvious is to fix the encoding to match the database/connection settings. In my case, I was getting a iso-8859-1 string and interpreting it as a unicode.
However, it shouldn't be an issue anyway. I went further to discover that PDO::ATTR_EMULATE_PREPARES is set to TRUE by default.