AbbVie as a shareholder of Galapagos
About AbbVie as a shareholder of Galapagos, Jan De Kerpel says in De Tijd: “It gives a dual message to investors considering to subscribe to the capital increase. With $ 30 million, AbbVie has already secured 15 percent of the funds. This supports the transaction and means that Abbvie believes in the future of the rheumatism medicine filgotinib. "
AbbVie now owns 2 percent of Galapagos. De Kerpel comments: “That 2 percent is rather symbolic. J & J owns a much bigger part. Look, I do not exclude that Galapagos will be taken over, but currently, AbbVie actually has what it wants. Nobody else can walk away with the license for the rheumatic agent. AbbVie has the first choice. "
Galapagos might have in a few months $ 400 million extra in cash (200 million of the capital increase and Abbvie 200 million of Abbvie): “AbbVie will most likely pay the cost for the further development of filgotinib. Other medications that Galapagos is developing are not yet at the stage where large amounts of money should be invested. Galapagos will probably look to buy external research programs."
Who subscribes to the capital increase, gives the management a blank check."