After a difficult spell for the Belgian biotech, positive interim data from two key studies looking at testicular toxicity concerns over filgotinib suggest a pathway for potential future US approval of the Gilead-partnered JAK inhibitor for IBD.

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.

Chiesi may not be a big pharma giant but it is very good at spotting early-stage innovative projects and partnering with the likes of Moderna, Protalix and Bioasis to tackle respiratory and rare diseases, CEO Ugo Di Francesco tells Scrip.