Biotech Values

[DewDiligence]

Sweet tax deal for Galapagos on ABT collaboration for GLPG0634 (JAK1 inhibitor):

http://finance.yahoo.com/news/galapagos-business-070146171.html

Galapagos received a positive ruling from the Belgian tax authorities on the collaboration agreement with Abbott. Galapagos may exempt 80% of qualifying income, based on the Galapagos patents covering JAK1 inhibitor GLPG0634, from Belgian corporate income tax. This will result in an effective income tax rate of under 5% for Galapagos for this income.