Galapagos and Gilead are calling time on their ill-fated licensing deal and the Belgian biotech is looking to unlock value by creating a business development-focused spin-out armed with a €2.45bn cash pile. Major job cuts are also on the cards.
After years of declining investor confidence in its business model, Galapagos is to start afresh by splitting in two and resetting its failed in-licensing deal with Gilead.
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