Biotech firm Galapagos agrees $5bn research deal with Gilead

Dutch-Belgian biotech company Galapagos has agreed a $5.1bn deal with Gilead Sciences which sees the US group almost double its stake from 12.3% to 22%. The deal includes a $3.95bn upfront payment and $1.1bn equity investment and gives Gilead exclusive access to all current and future compounds produced by Galapagos. Galapagos will use the cash to expand its research activities and build commercial infrastructure. Galapagos also said it would ask its shareholders to allow Gilead to increase its ownership to...