Brief: Galapagos Signs Letter Of Intent To Transfer Jyseleca Business To Alfasigma

Lakefront Biotherapeutics NV

31/10/2023 07:53

Oct 31 (Reuters) - Galapagos NV  GLPG.AS :
    * ON MONDAY ANNOUNCED STRATEGIC EVALUATION AND LETTER OF
INTENT TO
TRANSFER JYSELECA BUSINESS TO ALFASIGMA
    * TRANSACTION WOULD ENABLE GALAPAGOS TO REALIZE CONSIDERABLE
ANNUALIZED SAVINGS
    * AIMS TO PRESERVE JYSELECA® (FILGOTINIB) BUSINESS AND A
SIGNIFICANT NUMBER OF POSITIONS
    * GALAPAGOS PLANS TO STREAMLINE ITS REMAINING OPERATIONS AND
FURTHER BUILD EFFICIENCIES
    * TO GET EUR 50 MILLION UPFRONT, POTENTIAL MILESTONE
PAYMENTS
TOTALING EUR 120 MILLION, MID-SINGLE TO MID-DOUBLE-DIGIT
ROYALTIES ON EUROPEAN SALES
    * GALAPAGOS WILL PAY UP TO EUR 40 MILLION BY JUNE 2025 TO
ALFASIGMA FOR JYSELECA® RELATED DEVELOPMENT ACTIVITIES
    * GALAPAGOS ESTIMATES ANNUALIZED SAVINGS RANGING BETWEEN EUR
150
MILLION AND EUR 200 MILLION

Source text for Eikon:  ID:nGNE92hM1s 
Further company coverage:  GLPG.AS 

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