July 14, 2019 / 4:45 PM / a month ago

Pharma firm Gilead to raise Galapagos stake in $5.1 bln deal -report

July 14 (Reuters) - Gilead Sciences Inc will increase its stake in Galapagos NV 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 ($158.43) 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 here

$1 = 0.8874 euros Reporting by Ismail Shakil in Bengaluru, Editing by Rosalba O'Brien

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