Biotech Values

[xavierprivas]

My read is that Galapagos was a conservative European company that
did both drug discovery and a service division to provide revenue.
May be it is not easy to raise money by selling more shares like in
the US.
Thus they always partner their drug so that they don't have to pay
for the cost of development, and agree to terms that are not so good
but it is OK as they have a lot of internal prospects (at least a
dozen or more, I lost track of their many programs).
Something changed in 2014 where they switched to the mode of drug
discovery/development alone (sold service division). May be they
realize it is better to concentrate on a few good drugs instead of
trying to work on a lot of compounds and see which one sticks.
Also they have quite a few of those compounds returned.

I was afraid that Abbvie would favor their own drug and drag their
feet on Galapagos. I am with mcbio in thinking that there is no way
Abbvie could justify funding both p3 for their drug and GLPG's.
Thus if Abbvie opted in, they would use GLPG drug as a backup, thus
wasting its potential. This way is the better outcome for me.
(I am long GLPG thus biased)