Galapagos Surges as Study With Gilead Shows Arthritis Benefit

Galapagos NV’s experimental drug for rheumatoid arthritis with partner Gilead Sciences Inc. hit its main goal in a late-stage study, spurring the biggest gain in the Belgian biotech company’s shares in six months.

The medicine, filgotinib, along with another drug, methotrexate, showed significantly higher responses in the study than the latter treatment alone, the companies said March 29 in a statement. Galapagos shares climbed as much as 16 percent, the most since September.

The results demonstrate the drug’s efficacy is similar to that of a key competitor, AbbVie Inc.’s upadacitinib, Jefferies analyst Peter Welford wrote in a note Friday. The ...