Pharma firm Gilead to raise Galapagos stake in $5.1 billion deal – report

(Reuters) – Gilead Sciences Inc (O:) will increase its stake in Galapagos NV (AS:) and gain rights outside Europe to the Belgian-Dutch biotech firm’s treatments in development in a $5.1 billion deal, the Wall Street Journal reported on Sunday.

U.S. drugmaker Gilead will invest $1.1 billion, or 140.59 euros (126.01 pounds) per share to increase its stake in Galapagos to 22% from 12.3%, and make a separate $3.95 billion payment to Galapagos, WSJ said.

The terms of the deal, including the research collaboration, are set to be announced on Sunday, the Journal added.

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