Galapagos, AbbVie, Abbott deal

AbbVie declined to exercise its option to license Galapagos’ filgotinib ( GLPG0634), a Janus kinase-1 (JAK-1) inhibitor, and said it would begin Phase III testing by year end of ABT-494, the pharma’s own selective JAK-1 inhibitor to treat rheumatoid arthritis. Abbott Laboratories (NYSE:ABT, Abbott Park, Ill.) held the option under a 2012 deal to license filgotinib for $150 million up front. Abbott spun out its pharmaceutical business into AbbVie in 2013.

If certain prespecified criteria were met in Phase II testing for RA, AbbVie would have paid Galapagos an additional $200 million to exercise the option. AbbVie said it based its decision on “a thorough review of available data for both programs” and believed ABT-494 had the potential for a faster path to Phase III development. ...