(Bloomberg) -- Gilead Sciences will boost its stake in Belgian biotech company Galapagos in a deal worth $5.1 billion, the Wall Street Journal reported.

  • The deal, which will be announced Sunday, will give Gilead rights outside of Europe to the company’s treatments in development
  • Gilead will make a $3.95 billion payment to Galapagos and will also invest $1.1 billion to increase its stake in the drugmaker to 22% from 12.3%

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To contact the editor responsible for this story: Sebastian Tong at stong41@bloomberg.net

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