Johnson & Johnson and AbbVie bought a combined $55m of stock as the biopharmaceutical company, already listed in Europe, went public on Nasdaq.
Galapagos, a Belgium-based biotechnology company backed by pharmaceutical firm Johnson & Johnson, raised $275m from an initial public offering on Nasdaq yesterday.
The company issued 6.55 million shares priced at $42.05 each. The underwriters have the option to buy an additional 750,000 shares, which would boost the size of the offering to more than $306m.
Galapagos is developing small-molecule treatments for inflammatory-related diseases including rheumatoid arthritis, inflammatory bowel disease, cystic fibrosis and pulmonary disease.
The company plans to invest…
