New setback for Galapagos | The time

New setback for Galapagos | The time
New setback for Galapagos | The time



October 16, 2020
Today at
06:37

The Mechelen biotech company is halting its research into a drug against knee osteoarthritis.

Galapagos

and the French Serbian have been looking for an arthrosis medication together since 2010. A study with 932 patients (phase 2) now shows that the drug – under the code name GLPG1972 – does not work.

The patients were followed up for a year. The hope was that the treatment could reduce or stop the cartilage loss in the knee, but that was not the case. “There was no significant difference between the patients who received the drug and the placebo,” it says.



This is not what we were hoping for.

Walid Adi-Saab

Head of Galapagos Research

While this result is not what we were hoping for, this study adds to our understanding of osteoarthritis, a disease for which a significant medical need remains, said Walid Abi-Saab, Chief Medical Officer at Galapagos.

When the cooperation was signed, it was reported at the time that Galapagos could count on some 300 million euros in payments from Servier in the long term. About twenty million have already poured in, but CEO Onno Van De Stolpe no longer has to count on the rest.

Osteoarthritis remains a difficult area of ​​disease to tackle. There are means to combat osteoarthritis pain, but drugs that solve the problem are still insufficient. In osteoarthritis or osteoarthritis, the cartilage between the bones disappears and can rub against each other.

Do not panic

Analysts did not yet take this one study into account much in their valuation models.

100

small impact

Beurshuis UBS put a value of just over 100 million euros on the research, so little compared to the 7.7 billion euros in stock market value.

They estimate the chance of success to be quite low. The UBS stock exchange placed a value of just over 100 million euros on the research. At Jefferies that was 300 million euros, but that too little compared to the current 7.7 billion euros stock market value.

So the termination of the investigation is not an insurmountable problem, but a boost would have been welcome.

Previous setback

The Galapagos share price has halved exactly since its peak in February. The contrast with the wonder year 2019 (see graph) is big. Galapagos is no longer the most valuable biotech company in the Low Countries. That honor now goes to Argenx in Ghent.


Source link by https://www.tijd.be/ondernemen/farma-biotech/nieuwe-tegenvaller-voor-galapagos/10258346.html

*The article has been translated based on the content of Source link by https://www.tijd.be/ondernemen/farma-biotech/nieuwe-tegenvaller-voor-galapagos/10258346.html
. If there is any problem regarding the content, copyright, please leave a report below the article. We will try to process as quickly as possible to protect the rights of the author. Thank you very much!

*We just want readers to access information more quickly and easily with other multilingual content, instead of information only available in a certain language.

*We always respect the copyright of the content of the author and always include the original link of the source article.If the author disagrees, just leave the report below the article, the article will be edited or deleted at the request of the author. Thanks very much! Best regards!

These were the details of the news New setback for Galapagos | The time for this day. We hope that we have succeeded by giving you the full details and information. To follow all our news, you can subscribe to the alerts system or to one of our different systems to provide you with all that is new.

It is also worth noting that the original news has been published and is available at news1.news and the editorial team at AlKhaleej Today has confirmed it and it has been modified, and it may have been completely transferred or quoted from it and you can read and follow this news from its main source.

PREV Changes in KSA so far just tip of the iceberg, Saudi PIF chief tells the ‘oil man’s Davos’
NEXT US oil industry lobby weighs support of carbon pricing