Dutch pharma group Galapagos jumps 11% on planned split

Lakefront Biotherapeutics NV

08/01/2025 08:19

** Shares in Galapagos  GLPG.AS  gain 11% after the Dutch
pharmaceutical firm announced plans to split in two listed
entities later this year
    ** The to-be-spun-off business will be focused on innovative
medicines, with Galapagos providing around 2.45 billion euros
($2.53 billion) of cash for it, the group says
    ** Kempen analysts view the split as positive, saying it
should allow Galapagos to "become a cleaner biotech equity
story"
    ** The shares are on track for their best day since early
2022 if the gains hold

($1 = 0.9682 euros)

 (Reporting by Alban Kacher)
 ((alban.kacher@thomsonreuters.com))