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Gilead to invest $5.1B in investment deal with Belgium-based Galapagos

Gilead Sciences announced plans to invest $5.1 billion to increase its stake in Dutch biotech firm Galapagos, with an upfront payment of $3.95 billion and an investment of $1.1 billion to be made by Gilead, while the partners will develop and market treatments for a decade. Galapagos needs to ask for shareholder approval prior to allowing Gilead to raise its ownership stake further.

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