glpg – Scalper1

Gilead Buys Into Galapagos Drug That AbbVie Ditched

Big biotech Gilead Sciences (GILD) agreed to license an immunology drug from smaller counterpart Galapagos (GLPG) Thursday in a deal that could be worth more than $2 billion. Galapagos’ drug is filgotinib, which is due to start phase three trials in rheumatoid arthritis and Crohn’s disease next year. Gilead agreed to pay a $300 million license fee and buy $425 million in Galapagos stock upfront, and promised up to $1.35 billion in milestone

AbbVie Spurns Galapagos To Advance Own Arthritis Drug

Big pharma AbbVie (ABBV) said Friday that it’s advancing a rheumatoid arthritis drug after successful midstage clinical trials, but it’s also bailing out of a similar drug being developed by Belgian biotech Galapagos (GLPG), sending the latter’s stock tumbling. AbbVie conducted two trials testing various doses of ABT-494 against a placebo: one studying patients who responded inadequately to methotrexate, the other looking at those who failed to