|Bid||180.50 x 800|
|Ask||183.53 x 1300|
|Day's Range||180.74 - 186.74|
|52 Week Range||85.00 - 186.74|
|Beta (3Y Monthly)||1.29|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||163.31|
Mechelen, Belgium; 18 July 2019; 22.01 CET; regulated information - Galapagos NV (Euronext & NASDAQ: GLPG) received a transparency notification from Van Herk Investments.
Moody's Investors Service commented that Gilead Sciences, Inc.'s new research and development collaboration with Galapagos NV is credit positive for Gilead. There are no changes to Gilead's A3 existing senior unsecured rating or stable rating outlook. For additional information please refer to Moody's issuer comment on Gilead available on www.moodys.com.
There will be a bundle of earnings reports that start to roll out this week. On Monday morning we had a few, but it's about to get busy in the second half of July. Given how much is set to come out over the next few weeks, it was a relatively quiet day on Wall Street Monday. We saw an 0.17% gain in the Nasdaq today, followed by slight gains for the S&P 500 and Dow Jones.Source: Shutterstock InvestorPlace - Stock Market News, Stock Advice & Trading TipsThat said, there's a lot individual news to dig through. Bitcoin, Libra and CryptoThe bitcoin market has been wildly volatile lately, hasn't it? Bitcoin prices ran from $5,500 at the start of May to more than $8,700 by June 1st. Just a few weeks later it was north of $13,000. It topped out around $13,600, before it promptly fell to just under $10,000. Crypto bulls said it was an opportunity. Bears argued it was a blowoff top and it was coming back down. Another run to $13,000 earlier this month was again met with sellers as bitcoin prices dropped back down to $10,000. * 7 Dependable Dividend Stocks to Buy I'll stop the onslaught of price history, but it's sort of necessary for an asset like bitcoin. Put simply, this thing is volatile. Perhaps we're entering a range-bound trade, between $10,000 and $13,000. At the very least, traders now have a few lines in the sand, where a move above resistance or below support could spell a further move in that direction. The advances in bitcoin have helped give a boost to Facebook (NASDAQ:FB) stock, even as it's drawn the ire of regulators for its Libra cryptocurrency. Congress has asked Facebook to hold off on Libra until it knows more. It's drawn comments from the president, while U.S. Treasury Secretary Steven Mnuchin said the Treasury has serious concerns over Libra.For its part, Facebook -- which will reportedly settle with the FTC for $5 billion -- said it will wait until it has regulatory support before launching. Heard at the Nasdaq TodayShares of Gilead Sciences (NASDAQ:GILD) were on the move Monday, rising 2.7% and closing at $68.07. It will invest $5.1 billion in Galapagos (NASDAQ:GLPG), increasing its stake in the company from 12.2% to 22%. Galapagos will now see if shareholders approve an eventual stake increase to 29.9%. Given today's action, it's hard to see shareholders saying no, with GLPG stock rising more than 17% to new highs. Further, Gilead Sciences stock was upgraded to outperform at Wells Fargo. The analysts assigned an $88 price target, implying about 30% upside from current levels and signaling new 52-week highs should GILD stock get there. OK, so what's going on with Broadcom (NASDAQ:AVGO) and Symantec (NASDAQ:SYMC)? Broadcom was reportedly in talks to acquire SYMC. However, on Monday, shares of Symantec abruptly tumbled lower, falling over 10% on news that AVGO is no longer in talks to buy the company. However, the stock recovered off its initial lows -- and actually closed at session highs -- while AVGO stock rallied almost 3% on the news, before ending higher by just 1%. New reports say that Broadcom isn't walking away from the deal just yet. So what gives? This is just typical M&A drama. I don't know if Broadcom will pull the trigger for SYMC. Maybe the latter wanted even more money. Perhaps the terms weren't right. Either way, the market seems happy for AVGO to walk away, if that should be a sign of anything. Broadcom stock has been under pressure since the buyout news surfaced and rallied when it looked like the deal was off. Movers in the Nasdaq Today Click to EnlargeAlphabet's (NASDAQ:GOOGL, NASDAQ:GOOG) Google, as well as several social media sites have fallen under criticism that they display a political bias. Google's vice president of government affairs Karan Bhatia wrote an op-ed stating that the company does not have a bias and stated he will tell U.S. Senators that is the case as well. Social media is playing an enormous role in the distribution of political news, both real and fake. It's created a frenzy of both misinformation and information overload, drawing criticism from both political parties. No matter which side of the aisle readers stand on, they should be reading factually correct information, although tech companies haven't seemed to find a very good way to govern it thus far. Tesla (NASDAQ:TSLA) stock is hitting its highest levels since May, rising 3.4% on Monday on above-average volume. The stock is now running into prior support though, which acted as resistance a few months ago. The stock has to reclaim this area to really get the bullish train moving. Amazon's (NASDAQ:AMZN) much-awaited Prime Day is finally here, with sales going strong on Monday and Tuesday. The e-commerce retailer will pull in billions in revenue from the event and is drawing in competition from seemingly every online retailer (seriously, have you checked your inbox lately?) * 5 EV Stocks to Buy for Big Gains Over the Next Decade Target (NYSE:TGT), Costco (NASDAQ:COST), Home Depot (NYSE:HD) -- three strong retailers by the way -- have been hitting it hard, as has Walmart (NYSE:WMT), Best Buy (NYSE:BBY) and others. With a strong labor market, I would expect Amazon's Prime Day numbers to be solid this year. Bret Kenwell is the manager and author of Future Blue Chips and is on Twitter @BretKenwell. As of this writing, Bret Kenwell is long AVGO, GOOGL and AMZN. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Dependable Dividend Stocks to Buy * 10 Stocks Driving the Market to All-Time Highs (And Why) * 7 Short Squeeze Stocks With Big Upside Potential The post Nasdaq Today: Bitcoin & Libra; Whatas Broadcom Doing? appeared first on InvestorPlace.
A Galapagos deal with Gilead has GLPG stock heading higher on Monday.Source: Shutterstock As part of a larger deal with Galapagos (NASDAQ:GLPG), Gilead (NASDAQ:GILD) will be purchasing a stake in the company. This will have it acquiring new shares of GLPG stock for €140.59 each. This represents a 20% premium over the stock's 30-day, volume-weighted average price.The Galapagos deal will have Gilead increasing its stake in the company by a fair amount. This will have its ownership of GLPG stock increasing from 12.3% to 22%. Galapagos is also seeking approval from shareholders to allow for two warrants to Gilead. This will let it increase its stake in the company to 29.9%.InvestorPlace - Stock Market News, Stock Advice & Trading TipsThis Galapagos deal doesn't just stop with an investment from Gilead. It will also have the two companies working together. This includes a $3.95 billion payment from Gilead that will allow the company to work more on its research and development programs.The Galapagos deal will make it so that Gilead gains exclusive access to the results of research. That will include "exclusive product license and option rights to develop and commercialize all current and future programs in all countries outside Europe." * 7 Dependable Dividend Stocks to Buy There's also the option for additional payments if things go well for Galapagos. For example, Gilead is willing to pay an additional $325 million to the company if GLPG1690 gets approval in the U.S. It will also have the ability to pay a $250 million fee to license the compound for use in the U.S.GLPG stock was up 17% and GILD was up 2% as of Monday afternoon. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Dependable Dividend Stocks to Buy * 10 Stocks Driving the Market to All-Time Highs (And Why) * 7 Short Squeeze Stocks With Big Upside Potential As of this writing, William White did not hold a position in any of the aforementioned securities.The post Galapagos Deal: GLPG Stock Rockets Higher on Gilead Stake appeared first on InvestorPlace.
(Bloomberg Opinion) -- Gilead Sciences Inc.’s new CEO Daniel O'Day is trying to replicate the successful playbook of his former employer Roche Holding AG, the Swiss pharma giant he worked at for more than 30 years. On Sunday, Gilead announced that it would invest $5.1 billion to deepen an existing relationship with Belgian biotechnology firm Galapagos NV. O'Day isn't just committing to Galapagos – he’s committing to the idea of research partnerships that stop short of outright M&A. The deal includes a 10-year standstill agreement that restricts Gilead's ability to acquire the company. O'Day thinks that leaving Galapagos independent will keep it innovative, a bet that paid off for Roche and its productive long-term partnerships with Genentech and Chugai Pharmaceutical Co. That nebulous benefit will have to come through in a big way to justify the price and structure of this deal. Gilead is paying $3.4 billion upfront to gain rights to six drugs in clinical trials and access to a suite of earlier-stage programs. It is also making a $1.1 billion equity investment in Galapagos.The total outlay is a scant $2 billion less than the market cap of Galapagos before the deal was announced, and is above what the company was worth as recently as March. On top of that, Gilead already owned 12 percent of Galapagos and rights to potential blockbuster arthritis drug filgotinib from a $725 million deal completed in 2015. O'Day also isn't done paying up. He will have to shell out more cash to opt in to future programs and for development costs. Gilead will also pay a significant sales royalty if any drugs are approved. And Galapagos will retain European rights for most of its medicines. The potential return of this deal is lower than an outright acquisition, and Gilead didn't seem to get much of a discount. It’s giving up a lot to limit its risk and test the abstract notion that partnerships are superior. The company's late-stage pipeline is sparse, and it is too reliant on its HIV franchise. It’s not in a position to leave upside on the table. There’s a chance that the deal could work out. Gilead’s only has to pay $150 million to gain exposure to programs that are currently in early stages; that could wind up being a relative steal at some point in the next decade. Investors may feel a twinge with every opt-in and royalty check, however. Gilead had chances during the past few years to acquire Galapagos at a lower price than what it’s paying for the partnership now. That feels like a missed opportunity, and may seem even more so if its pipeline and R&D platform turn out to be as strong as O’Day seems to think they are.To contact the author of this story: Max Nisen at email@example.comTo contact the editor responsible for this story: Beth Williams at firstname.lastname@example.orgThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Max Nisen is a Bloomberg Opinion columnist covering biotech, pharma and health care. He previously wrote about management and corporate strategy for Quartz and Business Insider.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.
Gilead said it will make a $3.95-billion upfront payment and $1.1-billion equity investment in the Belgian pharmaceutical company, according to a Sunday press release. Galapagos intends to use the proceeds to expand its research and development programs. As part of a 10-year global research and development collaboration; Gilead will have access to a portfolio of compounds, including six molecules in clinical trials, more than 20 preclinical programs and a drug discovery platform. Galapagos shares were trading higher by 16.34% at $169.56 at the time of publication.
Daniel O'Day watched as Roche, where he was a top executive, took a piece of Genentech, then ultimately bought the South San Francisco company. Now as the chairman and CEO of Foster City-based Gilead Sciences, a deal with a Belgian biotech feels similar.
Shares of the European drugmaker Galapagos are soaring after (GILD) said over the weekend that it would spend $5 billion on a collaboration agreement with the firm. Instead of embarking on a pharmaceutical megamerger, of the sort Barron’s has argued against, Daniel O’Day, Gilead’s new CEO, signed a 10-year deal with longtime collaborator Galapagos (ticker: GLPG) to boost his company’s pipeline of potential treatments. “I firmly believe [in] the concept that we’ve come up with, the concept of enabling Galapagos with a significant capital infusion for them to further invest in that research and at the same time keeping their independence as a premier European biotech company that allows them to recruit the very best talent, make their own decision and progress programs according to their judgment,” O’Day said on a conference call about the deal.
Gilead Makes Galapagos Move AIDS and hepatitis C giant Gilead (NASDAQ:GILD) is making another move on Galapagos NV (NASDAQ:GLPG) to gain rights outside Europe for certain treatments. Gilead agreed to pay nearly $4 billion plus another $1.1 billion in shares at $158.49 per share, increasing its stake in the company to 22% from 12.3%. The […]The post Market Morning: Gilead Moves On Galapagos, Hong Kong Keeps Fighting, Trump Tweets appeared first on Market Exclusive.
European stocks ended higher on Monday as trade-sensitive German equities took heart from surprisingly strong Chinese data after worries about domestic growth led to a shaky start. Frankfurt-listed shares had briefly dipped into the red in early trade after Germany's economy ministry pointed to weakness in the manufacturing and services sectors, suggesting a subdued second quarter for Europe's largest economy. The DAX index ended 0.52% higher, however, with investors counting on the European Central Bank to signal further easing of monetary policy at a meeting next week given slowing growth.
Gilead Sciences said Monday that it will boost its stake in Belgian listed biotech Galapagos NV by more than $5 billion in a "transformative" deal that could tap new opportunities for the California-based group in fibrosis and arthritis.
(Bloomberg) -- Gilead Sciences Inc. agreed to pay $5.1 billion to raise its stake in biotechnology company Galapagos NV to deepen its research into inflammatory diseases and other disorders, sending the Belgian drugmaker’s stock to an all-time high.The deal is the largest Gilead has executed since new Chief Executive Officer Dan O’Day took the reins in March as he attempts to bolster the San Francisco giant’s drug pipeline. Gilead is in danger of becoming a victim of its own success after launching some of the top drugs of all time, its bestselling hepatitis-C franchise. Sales from those therapies have since declined due to increased competition.Under the agreement, Gilead, which will pay $3.95 billion upfront to Mechelen, Belgium-based Galapagos and invest $1.1 billion to raise its stake to 22% from 12.3%, the companies said in a statement. The investment, at 140.59 euros a share, is 9.7% higher than the Belgian company’s closing price on Friday. Galapagos shares surged as much as 17% on Monday, reaching 149.55 euros a share.“Gilead will significantly expand its pipeline in a smart and financially savvy expanded partnership deal with Galapagos, essentially gaining options on everything in their pipeline without having to acquire the company full out,” Jefferies analysts including Michael J. Yee and Andrew Tsai wrote in a note.As Gilead seeks to fill the growing hole left from its hepatitis drugs, the Galapagos announcement may signal a shift in focus. The smaller biotech has no oncology programs and instead focuses on research into diseases that have to do with inflammation and fibrosis, which is a kind of internal scarring.Gilead has also had research programs in such diseases, including through its collaboration with Galapagos, though some had speculated it may stake its future on cancer. Gilead is already the biggest shareholder of the Belgium company before the increase in stake, according to data compiled by Bloomberg. Now it gets the option to license all of Galapogos’s future, late-stage drug candidates.Gilead CEOO’Day, who joined Gilead from cancer giant Roche AG, said he’s not done making good on his promise to expand the pipeline. He noted the deal almost doubles Gilead’s research capacity and establishes a strong research base in Europe where the company has historically not been as active.“In no way is this the only thing that we’re looking at or the only thing that we’re going to do,” O’Day said in an interview. “You can look at this like it’s the beginning.”Gilead and Galapagos held talks about an expanded partnership prior to O’Day joining the company. He was briefed on those discussions after taking the top job and within the first couple of weeks, got to know the CEO of Galapagos better. Following those talks, the pair decided to being finalizing the agreement.Jobs in EuropeThis is a “science-driven deal,” Onno van de Stolpe, founder and chief executive officer of Galapagos, said in an interview. Gilead will be taking on more of the commercial side for Galapagos, helping the smaller company to focus on research. “We can now do more of what we’re good at.”The money being invested beyond the equity stake will be used largely to double Galapagos’s R&D staff to 1,000 from 500 over an unspecified time, Van de Stolpe said. Those jobs will be added in Belgium, the Netherlands and France. “It’s massive funding -- we don’t have a detailed plan yet on how to spend it,” he said.The pact includes a provision in which Gilead’s stake could rise to 29.9%, if Galapagos shareholders approve two warrants. The companies were already partners on an experimental drug for rheumatoid arthritis. That drug, filgotinib, hit its main goal in a late-stage study in March, triggering the Belgian biotech company’s shares to surge by the most in six months.Galapagos shares have risen 59% since the start of the year, compared with the 5.9% gain in Gilead’s stock.O’Day had a reputation as a dealmaker while at Roche, likely one of the reasons he was selected for Gilead’s top job at a time when the company needs to look externally to drive growth. He said that in this case, the companies opted for a partnership-style deal rather than a full takeover because full mergers can often destroy innovation as research and executive teams disband. Roche’s deal philosophy is much the same with the Swiss giant opting to leave many its units independently managed, even if it owns them in full.Gilead spent about $12 billion to buy Kite Pharma in 2017 for its research into a cutting-edge therapies known as CAR-T. While the treatments can prove near-miraculous for some patients, CAR-Ts have yet to become large sales drivers, falling far below the revenues Gilead needs to replace declining sales from its hepatitis-C franchise.Gilead is not the only large company with fading blockbusters. In June, AbbVie agreed to buy Allergan in a $63 billion megadeal in a bid to replace its bestselling Humira, the bestselling drug in the world. Celgene Corp. faced similar questions as the patent of its bestselling cancer drug aged before Bristol-Myers Squibb agreed to buy it for $74 billion in January.To contact the reporters on this story: Eric Pfanner in London at email@example.com;Rebecca Spalding in Boston at firstname.lastname@example.orgTo contact the editors responsible for this story: James Ludden at email@example.com, ;Drew Armstrong at firstname.lastname@example.org, Kevin Miller, Linus ChuaFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
The move will bring Gilead's new chief executive Daniel O'Day growth opportunities in Galapagos's specialist areas including fibrosis and arthritis, and give Galapagos deep funds to develop and commercialize its drugs. AbbVie's Humira, used to treat rheumatoid arthritis and spondylitis, racked up nearly $20 billion in sales in 2018, while Amgen and Pfizer's Enbrel still brings in $7 billion annually after 20 years on the market. As part of the deal, Gilead will spend $1.1 billion to lift its Galapagos stake to 22% from 12.3%.
- Gilead to Make $3.95 Billion Upfront Payment and $1.1 Billion Equity Investment - - Gilead Gains Access to Galapagos' Differentiated Drug Discovery Platform and Current.