Galapagos Sells CRO To Selvita For €31.2m
Fidelta No Longer Fits Strategy
The Belgian biotech has divested its drug discovery services unit in Croatia which was making a nice profit but was not a priority as Galapagos concentrates on setting up its commercial operations in Europe.
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Still reeling from the FDA rejection of its JAK inhibitor filgotinib for rheumatoid arthritis, the Belgium-headquartered biotech's ADAMTS-5 inhibitor developed with France's Servier is sunk after failing to significantly reduce cartilage loss compared with placebo in an OA trial.
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