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The latest announcement is out from Galapagos ( (GB:0JXZ) ).
Galapagos NV has announced a strategic plan to split into two publicly traded entities to enhance shareholder value. The company will establish ‘SpinCo’ with €2.45 billion in cash to focus on innovative medicine pipelines, while Galapagos will continue to concentrate on cell therapy in oncology, having secured full global development rights from Gilead Sciences. This reorganization is expected to foster long-term growth and provide both entities with the flexibility to explore new partnerships and advancements in their respective fields.
More about Galapagos
Galapagos NV is a biopharmaceutical company specializing in the development of cell therapies and innovative medicines, particularly in the oncology sector. The company aims to address major unmet medical needs through its decentralized production network and robust research and development pipeline.
YTD Price Performance: 5.15%
Average Trading Volume: 6,886
Technical Sentiment Consensus Rating: Buy
Current Market Cap: €1.81B
See more insights into 0JXZ stock on TipRanks’ Stock Analysis page.
