Gilead could place takeover bid for Galapagos – report (translated)
24 SEP 2016
California-based biopharmaceutical company Gilead could place a bid for a takeover of Belgian pharmaceutical company Galapagos, the Belgian daily De Tijd reported, citing Seeking Alpha, a blog for investors.
Gilead seems to be ready for takeovers, Seeking Alpha wrote, explaining that investors have asked the company to find a new opportunity to grow. A takeover of Galapagos would be a logical scenario because Gilead is already financing Galapagos's research on filgotinib, used to treat rheumatism, De Tijd said.
KBC analyst Michaël Vlemmix told De Tijd that currently a takeover by Gilead is not possible, because Gilead and Galapagos have signed a standstill agreement. However, it is unknown how long that agreement will last, Vlemmix said.
On Friday, the value of Galapagos shares rose 4.7% to EUR 63.78 per share, the report said, giving Galapagos a stock value of over EUR 3bn.
Galapagos was not available for comment, the report noted.