Gilead to boost Galapagos stake in $5.1B deal – Gilead Sciences, Inc. (NASDAQ:GILD)


Gilead Sciences (NASDAQ: GILD) says it will pay $ 5.1B to increase its stake in Galapagos (NASDAQ: GLPG) and that it will participate in a global 10-year R & D partnership to develop and market its treatments.

Gilead says he will receive an exclusive product license and option rights to develop and market all current and future programs in all countries outside of Europe.

Gilead will pay € 140.59 ($ 158.43) for each new share in Galápagos to increase its stake in the Belgian-Dutch company to 22% from 12.3%, and Galápagos says it will seek shareholder approval to allow Gilead to increase its ownership until as much as 29.9%.

The two companies have partnered in the development of a drug for rheumatoid arthritis for more than three years, and Galápagos will get wider European European commercial rights for the drug as part of the expanded collaboration.

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