R&D U-turn sees Galapagos ditching liver and kidney programs
Struggling in the wake of the discontinuation of ziritaxestat, Belgian biotech Galapagos (Euronext: GLPG) is to undertake a radical restructuring aimed at jump-starting the business.
New chief executive and erstwhile Johnson & Johnson (NYSE: JNJ) heavyweight Paul Stoffels has a challenge on his hands, with the firm’s stock price sliding and an alliance with Gilead Sciences (Nasdaq: GILD) faltering.
Outlining a new “Forward, Faster” strategy, the company said it would fire 200 people in Europe and invest more in new capabilities and programs in oncology.
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