Missed Milestone Prompts Galapagos to Slash Value of Inpharmatica Acquisition

Apr 10, 2007

NEW YORK (GenomeWeb News) — A missed milestone by Inpharmatica has prompted Galapagos to cut around €7 million from the value of its acquisition of the company, Galapagos said today.

The company has already issued 613,000 new shares to former Inpharmatica stockholders, which Galapagos had agreed to acquire last December for as much as €19 million ($25.4 million) in stock.

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