A PYMNTS Company

US: Gilead deepens Galapagos ties with $5.1b deal

 |  July 16, 2019

Gilead Sciences Inc will invest $5.1 billion to raise its stake in Galapagos NVand partner with the Belgian-Dutch biotech firm to develop and commercialize its treatments for a ten-year period, the companies said on Sunday.

The investment in Galapagos, which comes nearly four years after the firms partnered to develop a drug targeting inflammatory diseases, includes an upfront payment of $3.95 billion and a $1.1 billion equity investment from Gilead.

“Gilead gains exclusive access to all current and future compounds in Galapagos’ rich pipeline while Galapagos is able to expand its research activities and build commercial infrastructure,” Gilead Chief Executive Officer Daniel O’Day said in a statement.

Full Content: CNBC

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.