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Galapagos inks $2.1B deal with Gilead to develop filgotinib for inflammatory conditions

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Management Comment "Clearly, Gilead is in the driver's seat. They are responsible for the clinical, regulatory, manufacturing, and the marketing of the molecule and the product. But we have been able to secure substantial rights for Galapagos in the co-marketing of this molecule in the main markets in Europe as well as in the Benelux. This means that Galapagos is able to use filgotinib to build up a sales force, to build up an infrastructure, actually book the sales in the Benelux, and actually become a fully integrated Company."
Additional Relevant Details Gilead and Galapagos co-develop filgotinib in inflammatory diseases • GLPG contributes 20% to R&D costs • Gilead responsible for clinical, regulatory, manufacturing, marketing • Galapagos has option to co-promote in key European markets & Benelux • 50/50 profit sharing in co-promotion territories • Upfront $725 M, incl. $425 M equity stake @ €58 per share • Potential success-based milestones totalling $1.35 B • Tiered royalties starting at 20% outside co-promotion territories
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Catalyst Date
Occurred on:
Dec 17, 2015
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Related Keywords Filgotinib, Crohn's Disease, Rheumatoid Arthritis