Stoffels Sets Out Strategy To Save Galapagos
Focus On Phase I/II Licensing Rather Than Late-Stage Prospects
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.
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In this week's podcast version of Five Must-Know Things: Pfizer to boost migraine presence via M&A; Roche’s immunotherapy ambitions take a hit; Biogen’s CEO search gets more complicated; Stoffels lays out new strategy for Galapagos; and mixed results for Japanese majors.
The Belgium-headquartered firm has struggled of late to impress investors, most recently with data from its salt-inducible kinase inhibitors, and CMO Walid Abi-Saab told Scrip that one reason could be "the level of optimism that prevails in the company. We jump on things a bit ahead of time."
Lead Toledo compound GLPG3970 has failed to live up to expectations in three clinical studies, setting Galapagos's pipeline plans back and causing further concern among the investment community.