Gilead Sciences Inc will invest $5.1 billion to raise its stake in Galapagos NV ...
) and partner with the Belgian-Dutch biotech firm to develop and commercialize its treatments for a ten-year period, the companies said on Sunday.
“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. In 2015, Gilead signed a deal worth more than $2 billion with Galapagos, which included a $725 million upfront payment for the development of filgotinib, as well as an equity stake in the European firm.
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