Biotech company Galapagos sees losses increase

Another setback for the Flemish-Dutch biotechnology company Galapagos, which had to announce hefty losses on Friday The operational loss for 2022 amounted to 267 million euros, compared to 165 million a year earlier.

The share price fell more than 3 percent, making it the lowest level in seven years The results cover a year in which the company cut 200 of its 1,300 jobs, halted trials of drugs for pulmonary fibrosis and kidney disease, and took a big hit on the stock market after failing drug candidates.

Nevertheless, during the presentation of the annual figures on Friday afternoon, financial director Bart Filius said he was "proud" of what Galapagos had achieved this year - in particular the increasing sales of the drug Jyseleca, which amounted to 88 million euros Last year it was 15 million.

The pharmaceutical company expects sales to increase further in 2023 to a net turnover of 140 to 160 million euros Towards 2030, Galapagos expects to achieve a turnover of 400 million euros through the drug.

This lowers expectations: previously it was assumed to be 500 million euros The adjustment comes after it turned out that the drug does not work against Crohn's disease, which was expected.

It is not the first setback: in 2020 it turned out that the US regulator FDA did not allow Jyseleca on the US market due to doubts about the high dosage and possible side effects The drug was approved in Europe and Japan, but the American rejection cost Galapagos .

After an initial revival, the share price plummeted Jyseleca is Galapagos' only commercialized drug.

In addition to its sales, Galapagos also earns money from partnerships, such as with the American pharmaceutical company Gilead Paul Stoffels took over as CEO in April last year, after his predecessor Onno Stolpe took early retirement after setbacks with Jyseleca, among others.

With Stoffels, the company took a new course: it started with the development of medicines for people with autoimmune diseases and cell therapy for cancer patients, including those who are working on cell therapy Last year Galapagos invested more than 515 million euros, compared to almost 492 euros in 2021.

NRC Economy The most important developments in the economy, on the stock markets and in business such as with the American pharmaceutical company Gilead Paul Stoffels took over as CEO in April last year, after his predecessor Onno Stolpe took early retirement after setbacks with Jyseleca, among others.

With Stoffels, the company took a new course: it started with the development of medicines for people with autoimmune diseases and cell therapy for cancer patients, including those who are working on cell therapy Last year Galapagos invested more than 515 million euros, compared to almost 492 euros in 2021.

NRC Economy The most important developments in the economy, on the stock markets and in business such as with the American pharmaceutical company Gilead Paul Stoffels took over as CEO in April last year, after his predecessor Onno Stolpe took early retirement after setbacks with Jyseleca, among others.

With Stoffels, the company took a new course: it started with the development of medicines for people with autoimmune diseases and cell therapy for cancer patients, including those who are working on cell therapy Last year Galapagos invested more than 515 million euros, compared to almost 492 euros in 2021.

NRC Economy The most important developments in the economy, on the stock markets and in business With Stoffels, the company took a new course: it started with the development of medicines for people with autoimmune diseases and cell therapy for cancer patients, including those who are working on cell therapy Last year Galapagos invested more than 515 million euros, compared to almost 492 euros in 2021.

NRC Economy The most important developments in the economy, on the stock markets and in business With Stoffels, the company took a new course: it started with the development of medicines for people with autoimmune diseases and cell therapy for cancer patients, including those who are working on cell therapy Last year Galapagos invested more than 515 million euros, compared to almost 492 euros in 2021.

NRC Economy The most important developments in the economy, on the stock markets and in business.