Galapagos' 2007 sales to exceed 64M euros
In a recent trading update, Belgian drug discovery firm Galapagos NV says that its revenue for the full year 2007 is likely to exceed the 64.0 million-euro ($97.2 million) forecast it previously issued. The firm explained that a strong performance in the second half of the year, particularly related to its partnerships with Janssen Pharmaceutica, GlaxoSmithKline and Eli Lilly, had contributed around 49.0 million euros to its year end cash balance.
Restructuring of BioFocus division
In contrast, Galapagos' said that its BioFocus DPI subsidiary would report a loss due to lower-than-expected sales in both its biology services and compound library operations. Overall, BioFocus is expected to see a shortfall of 4.9 million euros.
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