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Survival of the unfittest

15 Oct 2021 By Neil Unmack, Robert Cyran

Galapagos has few drugs, a departing CEO and is worth just 3.1 bln euros, less than the cash on its books. It should be a takeover candidate, but the influence of key investor Gilead is a complication. It’s a cautionary tale of the challenges of drug discovery and creative M&A.

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