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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CFO François Roger tells Scrip the French drugmaker is flexible geographically on making investments but its spend in the US has risen regardless of the threat of tariffs.
Roche believes it can ride out any short-term effects of US tariffs if they are imposed but wants to see reform of US and European pricing to help support the sector.
Deal snapshot: The Flagship portfolio firm will use its Decode platform to seek novel targets for an unspecified autoimmune disease, with Genentech holding license rights.
Sanofi's Paul Hudson and Novartis's Vas Narasimhan claim that while Europe is home to some of the most important biopharma companies in the world, its position is in jeopardy.
Deal snapshot: The Flagship portfolio firm will use its Decode platform to seek novel targets for an unspecified autoimmune disease, with Genentech holding license rights.
Two Phase III trials testing tegoprazan read out positively, but the potassium-competitive acid blocker will compete with Phathom’s Voquezna (vonoprazan).
The collaboration, supported by UK and Singapore government agencies, aims to develop an mRNA-based, needle-free universal bird flu vaccine suitable for use in a pandemic.
