Belgium-based Galapagos shares shot up 12 percent on news that the company has inked a massive deal with Jassen Pharmaceutica, a division of Johnson & Johnson. The deal, which is worth up to €1 billion, covers small-molecule oral drugs for the treatment of rheumatoid arthritis. Under the agreement, Galapagos will get €15 million up front and an additional €2 million milestone payment for GT146, one of Galapagos' advanced RA programs. Janssen may select up to 12 programs from Galapagos' RA targets. For each program licensed by Janssen, Galapagos could receive option exercise fees and milestone payments up to €73 million, plus royalties on net sales of each approved new RA drug.Â
- see this release on the deal for more
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