Biotech company Galapagos splits into two companies, cutting hundreds of jobs
Biotech company Galapagos, based in Mechelen, has announced plans to split into two listed companies and cut 300 jobs as part of a major reorganisation.
The company aims to "unlock shareholder value" through the split. A new entity, backed by 2.45 billion euros in cash, will focus on building a pipeline of innovative medicines through acquisitions. The target is to secure promising drug programmes or companies in fields like virology, immunology and oncology.
Meanwhile, the existing Galapagos will concentrate on cell therapy in oncology, which has been the core focus since 2022. This shift means discontinuing its small molecules division, which is now up for sale.
The reorganisation will impact approximately 40 per cent of Galapagos’ workforce in Europe, with 300 jobs at risk across Belgium, France, the Netherlands and Switzerland. France faces significant cuts, including a likely site closure, while the impact on Belgium remains unclear. "The works council will be informed," a company spokesperson said on Wednesday.
Galapagos' headquarters will remain in Mechelen.
#FlandersNewsService | A scientist at Galapagos NV in Mechelen © PHOTO JOCK FISTICK/ BLOOMBERG NEWS / MAXPPP
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