With the split, Galapagos says it wants to unlock shareholder value. A new company will be created with €2.45 billion in cash and will focus on building a pipeline of innovative medicines through acquisitions. This company targets transactions involving promising pharmaceutical programs or companies active in virology, immunology or oncology among others.
The Galapagos company that will continue to exist will be dedicated to cell therapy in oncology, the activity on which the company has focused since 2022. This means that Galapagos is interrupting its “small molecules” activity and is looking for a buyer. potential.
The cessation of this activity involves a reorganization which should lead to the elimination of around 300 jobs in Europe, the equivalent of 40% of the staff. Jobs are threatened in France, Belgium, the Netherlands and Switzerland.
This reorganization should lead to a “significant reduction” of the workforce in Belgium and the closure of the site in France. The number of jobs lost in Belgium is not yet known precisely.
The headquarters of Galapgos will nevertheless remain in Mechelen.
