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.
You may also be interested in...
Onno van de Stolpe has told Scrip it will take time to win investor confidence back after more disappointing news about the JAK inhibitor but Galapagos has "the pipeline and the cash in the organization to do so."
A disappointing meeting with the FDA means "we no longer see a viable path to US approval in this indication,” said Gilead CEO Daniel O'Day, as Galapagos assumes sole responsibility for the commercialization of the JAK inhibitor in Europe.
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.