Makeover for Gilead-Galapagos deal to yield newco primed for BD

What has become of Galapagos a little more than five years after its major partnership with Gilead is far from what the partners had envisioned for the mega-deal.

At the time, the $5.1 billion upfront payment — nearly $4 billion of which was in cash — was meant to give Gilead Sciences Inc. (NASDAQ:GILD) access to an extensive pipeline of first-in-class molecules targeting immunology and fibrotic diseases...