Paul Stoffels, Galapagos CEO (Andrew Harnik/AP Images, File)

Gala­pa­gos plans to hand over Jy­s­e­le­ca and 400 em­ploy­ees to Al­fasig­ma, re­duce work­force by 100

Gala­pa­gos has a plan to hand over its Jy­s­e­le­ca busi­ness — its on­ly com­mer­cial prod­uct — to Al­fasig­ma, as well as lay off some of its own em­ploy­ees and trans­fer oth­ers to the Ital­ian phar­ma.

In the po­ten­tial deal, Gala­pa­gos will get €50 mil­lion ($53.3 mil­lion) up­front, po­ten­tial mile­stone pay­ments to­tal­ing €120 mil­lion ($127.9 mil­lion) and mid-sin­gle to mid-dou­ble-dig­it roy­al­ties on Eu­ro­pean sales for Al­fasig­ma. About 400 jobs in 14 dif­fer­ent Eu­ro­pean coun­tries will al­so be trans­ferred to Al­fasig­ma.

Endpoints News

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.