Galapagos Defends High-Risk High-Reward R&D Strategy
CEO: 'We don't want to throw away the baby with the bathwater'
Following a trio of high-profile setbacks, the Belgian biotech is looking to fill the gap between the European launches of its rheumatoid arthritis drug Jyseleca and its programs back in Phase II via in-licensing and M&A.
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Pharma veteran Paul Stoffels, the new CEO of Galapagos, is not thinking about using the Belgian biotech’s cash pile to buy Phase III drugs but is open to licensing deals with US firms who have drugs approved at home and are looking for a European partner.
The troubled Belgian biotech has pulled off a major coup in hiring Paul Stoffels, the architect of J&J's R&D successes over the last decade, as its new CEO.
Daily notebook from the virtual J.P. Morgan Healthcare Conference: Updates from Galapagos, Ipsen, LG Chem, Hanmi and Fosun; experts discuss deal and financial outlook at Biotech Showcase, plus the impact of RMAT and the changing landscape for rare diseases.