Galapagos opposes takeover attempt by Gilead

Onno van de Stolpe, CEO of Belgium-based biotech Galapagos, has reported to Belgian daily De Tijd that his company won’t be acquired in the near future by US-based Gilead and will, instead,  remain independent. The statement addresses the rumors circulating since yesterday about a new takeover attempt by Gilead, following positive Phase III results for the potential blockbuster Filgotinib. Filgotinib is an investigational therapy for rheumatoid arthritis, developed by Galapagos and licensed to Gilead in 2015.

Importantly, the same van de Stolpe few months ago stated he planned to create an industrial group to be used as “White Knight” and to sell it 10% of the company’s shares in order to block Gilead’s takeover attempt.  Galapagos has a market value of €5.3bn. Its shares have risen almost 25% YTD (Amsterdam).

(Source: De Tijd)