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Galapagos Completes $5.42M Acquisition of DPI’s Drug Discovery Operations

Jul 06, 2006
NEW YORK (GenomeWeb News) - Galapagos said today that it has completed its €4.25 million ($5.42 million) acquisition of Discovery Partners International's drug discovery operations, which will now be part of Galapagos' service division, BioFocus DPI.
 
As a result of the acquisition, Mechelen, Belgium-based Galapagos has increased its 2006 revenue guidance to the range of €33 million to €38 million ($42 million to $48 million), from the range of €25 million to €30 million ($32 million to $ 38 million).
 
The operations acquired by Galapagos include DPI discovery services sites in San Diego; South San Francisco, Calif.; Basel, Switzerland; and Heidelberg, Germany.
 
Galapagos has also acquired DPI's Tokyo sales office.
 
Galapagos announced its intention to acquire the discovery group in mid-June.

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