Galapagos Downgraded, Pharma Firm Faces Uphill Battle With Slow Pipeline Progress: Analyst

Bank of America Securities downgrades European drugmaker Galapagos NV (NASDAQ:GLPG) to underperform, citing few catalysts in the near term.

Galapagos’ enterprise value has been consistently low, ranging between $1.5 billion and $2 billion, and the analysts don’t anticipate any immediate or medium-term solutions to this. 

Additionally, the company’s main programs are entering crowded markets where differentiation is unclear, and there is a lack of significant catalysts to drive growth.

Galapagos’ primary cancer pipeline requires 3 to 4 years to reach the market, accompanied by significant cash depletion and uncertain standing in fiercely competitive markets. 

Moreover, …

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