Galapagos Cozies Up Closer to Gilead Sciences
Gilead Sciences (NASDAQ: GILD) inked a collaboration deal with Galapagos NV (NASDAQ: GLPG) in 2015 to gain rights to the latter's JAK1 inhibitor filgotinib. Today, Galapagos decided to execute its co-commercialization rights to filgotinib in several European countries. The move comes only weeks ahead of a standstill agreement between the two companies expires and positions Galapagos to split profit in regions covered by the co-marketing agreement. Since Galapagos' decision could have a big impact on its financials, let's learn more about filgotinib and the company's relationship with Gilead Sciences.
Gilead Sciences swooped in with enough money to license it and acquire a nearly 13.3% equity ownership stake in Galapagos after AbbVie Inc. (NYSE: ABBV) walked away from its license to focus on its own autoimmune disease drugs.
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Source: Fool.com
