Galapagos could see bid from Gilead (translated)
15 DEC 2017
Belgian biotechnology company Galapagos [Euronext: GLPG] [Nasdaq:GLPG] could see a takeover bid from its US competitor Gilead [NASDAQ: GILD] shortly, De Tijd reported, citing CEO Onno Van de Stolpe of the target.
Galapagos and Gilead agreed on a standstill period in 2015, when they signed a far-reaching cooperation agreement. Gilead agreed not to acquire a larger stake in Galapagos during that period. But the period will end on 1 January 2018, making it possible for Gilead to try to acquire its competitor.
Van de Stolpe said, according to the Belgian daily, that Gilead hasn’t reached out to him yet, but that he is worried that Gilead will make the takeover attempt in the next few years, possibly in 2018.
The CEO said that the agreement between the two is financially better for Galapagos than Gilead. That could make an acquisition of the company more interesting for Gilead, the Flemish-language newspaper said.
Van de Stolpe said Gilead could wait with regard to the takeover until the final results of its study on the medicine Filgotinib are out. That would put Gilead in a less-risky position, the daily said.
But the CEO emphasized that he’s not sure about Gilead’s plans.
Last year Galapagos had turnover of EUR 151m, the Dutch daily Het Financieele Dagbladreported earlier this year.