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Financial Report: Galapagos

Revenues up 21% in the quarter, boosted by AbbVie Payment

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By: Tim Wright

Editor-in-Chief, Contract Pharma

Galapagos
 
1H Revenues: €77.4 million (+20%)

1H Loss: €5.4 million (loss of €11.3 million 1H12)

Comments: R&D division revenues were €49.1 million, up 56% driven by revenue recognition on the upfront payment from AbbVie in the global collaboration on GLPG0634. Services revenues were down 14% to €28.4 million. Results include the closure and relocation of the Basel site activities in 1H12, and the Cangenix acquisition this year.

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