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Financial Report: Galapagos

Revenues up 36% for the year

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By: Tim Wright

Editor-in-Chief, Contract Pharma

Galapagos
 
FY Revenues: $199.3 million (+36%)
 
FY Earnings: $7.4 million (loss of $39.2 million 1Q12)
 
Comments: The service division grew external revenues to $85.7 million, up 10%, partially offset by the closure of BioFocus’ Basel operations and transfer of the high-throughput screening activities to Chesterford Park. The R&D division had revenues of $113.6 million, driven by alliance milestones and $48.5 million in revenue recognition from the $150 million AbbVie payment related to GLPG0634.

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