Daniel O'Day [via AP Images]

Gilead un­leash­es a $5B late-stage cash al­liance with Gala­pa­gos — lay­ing out O'­Day's R&D strat­e­gy

Daniel O’Day is ex­e­cut­ing his first ma­jor de­vel­op­ment deal since tak­ing over as CEO of Gilead $GILD. And he’s go­ing in deep to al­ly him­self with a long­stand­ing part­ner.

O’Day an­nounced to­day that he is spend­ing $5 bil­lion in cash to add new late-stage drugs to Gilead’s pipeline, pick­ing up rights to Gala­pa­gos’ $GLPG Phase III IPF drug GLPG1690 along­side adop­tion of the biotech’s Phase IIb drug GLPG1972 for os­teoarthri­tis. And Gilead is al­so putting bil­lions more on the ta­ble for mile­stones, gain­ing op­tions for every­thing else in Gala­pa­gos’ pipeline, with a shot at all rights out­side of Eu­rope.

Al­to­geth­er, Gilead is gain­ing rights to 6 clin­i­cal-stage as­sets, 20 pre­clin­i­cal pro­grams and every­thing else be­ing hatched in trans­la­tion.

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