Galapagos NV acquires DPI's discovery operations
Belgian drug developer Galapagos NV, a specialist in genomics-based product design, says that it has completed its acquisition of all the drug discovery operations of US firm Discovery Partners International for 4.25 million euros ($5.4 million). The operations purchased include DPI sites in San Diego and San Francisco, in addition to facilities in Switzerland, Germany and Japan. Based on the deal, Galapagos has increased its revenue guidance for 2006 from 25.0-30.0 million euros to 33.0-38.0 million euros.
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