'Forward, faster' and 200 jobs lighter as fibrosis and kidney disease get cut, Galapagos CEO Stoffels once again spotlights deals
New Galapagos CEO Paul Stoffels — best known for his turn as the longtime CSO at J&J — has come up with a three-pronged strategy to dig a way out of the big hole the biotech finds itself in. And it calls for taking out the budget axe and giving the staff 200 whacks so they can put more money into deals.
“Our new fit-for-purpose organizational structure and operating model will focus on accelerating our pipeline in immunology and oncology, supported by externally sourced opportunities, and we will discontinue our activities in fibrosis and kidney disease,” Stoffels noted in a statement.
Unlock this article instantly by becoming a free subscriber.
You’ll get access to free articles each month, plus you can customize what newsletters get delivered to your inbox each week, including breaking news.