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Galapagos stock plunges after AbbVie stops considering cystic fibrosis development plans

Galapagos NV GLPG, -Zero.48% shares plummeted more than 14% in after-hours trading Thursday after the corporate said that AbbVie Inc. ABBV, +1.01% was once pulling out of development plans for a potential cystic fibrosis drug. Galapagos introduced that AbbVie would no longer continue with a previously contemplated study of a mixture remedy for cystic fibrosis, and that "Galapagos was reviewing the future of its CF collaboration with AbbVie." Galapagos additionally said that a study of one of the vital elements of the prospective combination remedy reached its primary endpoint. Galapagos shares closed with a nil.5% decline at $95.81, and have gained 2.2% to this point this yr as the S&P 500 index SPX, +Zero.62% has higher 1%.