Gilead’s $5bn investment lifts Belgian biotech firm Galapagos to record
Galapagos founder hopes cash infusion will put European biotech sector in a different light
15 July 2019 - 19:41
London — Gilead Sciences’s $5.1bn investment in Galapagos propelled the Belgian biotechnology company’s stock to a record on Monday while sending a positive signal to the rest of the sector in Europe, where the industry has lagged behind the US.
The amount Gilead is investing tops the $4.7bn that has flowed to European pharma and biotech companies in 2019 in mergers, acquisitions and share investments. It compares with a whopping $240bn in the US, a number that was boosted by a handful of mega deals, Bloomberg data show...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.