, Columnist
Don't Count on Gilead Buying Galapagos
The drugmaker needs a deal, but this European biotech isn't it.
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Though Gilead Sciences Inc. has only just begun to absorb its $12 billion purchase of Kite Pharma Inc. in October, drums are already beating for another deal.
The current buzz is about Galapagos NV, a European biotech that has a licensing deal with Gilead for its autoimmune drug filgotinib. Buyout rumors have cropped up because Galapagos exercised an option on Friday to co-promote filgotinib if the drug gets regulatory approval in parts of Europe, and because a lockup and standstill agreement tied to Gilead's stake in the company expires New Year's Eve. Galapagos shares rose nearly 9 percent on Friday, pushing its market cap to nearly 4 billion euros.