beagle06 schreef op 15 december 2020 22:25:
Beste forum leden,
We did not expect to end the year in another lockdown. Nor did we anticipate Galapagos to end up in the choppy waters it is today. The CRL and the decision of Gilead not to progress filgo in RA is big disappointment. For us, for doctors, patients and investors. This, in combination with the failure of ‘1972 in OA has caused the stock to drop to levels we had not thought we would see again. But that is the reality of biotech. It all depends on the progression of the products in the pipeline, and when a product hits a wall, the impact is huge.
However, the setback with filgo also opens a new chapter for Galapagos. We were able to negotiate full commercial rights for filgo in Europe, a great improvement of the existing situation and an opportunity our commercial team could only have dreamt about. With the new agreement, we now align commercialization of filgo to our European commercial strategy and vision that is the basis of the 10 year alliance with Gilead.
Clearly there is much now for us to do. Through a phased transition period, the majority of activities supporting filgo in Europe are expected to be assumed by Galapagos by the end of ‘21. Over the past two years, Gilead and Galapagos have made tremendous progress in building the European commercial organization for launching filgo in RA. We will now work closely with Gilead to move their people and expertise to Galapagos to ensure a successful continuation of the launch. Separately, both companies remain committed to our long-term collaboration to discover and develop new therapies for inflammatory diseases, fibrosis and beyond.
It can’t be denied that 2020 is a difficult year, but together with you all, I am looking forward to this new chapter in the history of Galapagos.
Kind regards,
Onno