(ABM FN) Galapagos and Gilead signed an agreement Thursday to extend the closing period of Gilead’s current shareholder position until 2024. The Belgian-Dutch biotech company said late Thursday evening.
In August 2019, the two companies signed a ten-year R&D cooperation agreement, under which Gilad acquired shares in the Galapagos. With the amendment announced Thursday, Gilead is committed to a full close of 16.7 million shares until August 22, 2024.
“We fully support our long-term partnership with the Galapagos. We continue to see the added value of the Galapagos unique target discovery approach and support the Galapagos in their work to realize their potential,” said Andrew Dickinson, Gilead Chief Financial Officer.
Galapagos closed 0.7 percent higher on Thursday at 65.56 euros.
Update: To add more information and respond to Gilead.
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From Beursplein 5, the editors of ABM Financial News follow closely the developments on the exchanges, and the Amsterdam Stock Exchange in particular. The information in this column is not intended as professional investment advice or as a recommendation to make specific investments.