Galapagos, Gilead Enter Binding Agreement On Ouro Medicines Acquisition

March 31 (Reuters) - Gilead Sciences Inc GILD.O:

• ENTERS BINDING AGREEMENT WITH GILEAD ON OURO MEDICINES ACQUISITION

• GALAPAGOS AND GILEAD ENTER INTO BINDING AGREEMENT TO COLLABORATE ON ADVANCING FIRST IN CLASS T CELL ENGAGER PROGRAM FOR AUTOIMMUNE DISEASES

• TO FUND 50% OF $1.675 BILLION UPFRONT AND 50% OF MILESTONE PAYMENTS FOR OURO DEAL

• MAY SPEND $500 MILLION INDEPENDENTLY, INCLUDING UP TO $150 MILLION FOR SHARE REPURCHASES OR DIVIDENDS