Growth concerns are pushing the European stock markets into the. The partnership between Galapagos and Gilead is loosening. Lotus Bakeries will not split its share.
After a difficult week, the European stock markets continued their descent. Investors are talking about slowing growth in the global economy for many reasons: high, rising interest rates, the problems with Evergrande in China, energy shortages, ongoing corona outbreaks in parts of the… The loss of the Euro Stoxx is 50 around 11:35 a.m. 0.25 percent.
limits the loss to 0.1 percent to 4,134 points. UCB
(+0.8%) and Ageas
(+0.6%) going higher. Among the biggest losers Melexis
(-1.25%) and Telenet
Strongest descender is included Galapagos
that 2.3 percent to 44.97 euros. The biopharma company announced this morning that it is now recruiting all patients into its Phase 3 trial of filgotinib to treat Crohn’s disease. The Diversity study takes place worldwide and involves 1,374 patients in 369 different locations.
In the context of the study, the effect of two different doses of filgotin (100 and 200 mg) with a placebo. Full results are expected in the first half of 2023.
Also important is Galapagos new financial arrangements with its alliance partner and shareholder Gilead. The Mechelen company will bear the full costs for the diversity study, instead of sharing it with Gilead. As compensation, Gilead will make a one-time payment of $15 million to Galapagos. In addition, if filgotinib for Crohn’s disease is cleared in Europe, Galapagos will have to pay reduced royalties to Gilead for sales of filgotinib in Europe, across all indications.
This has prompted KBC Securities analysts to lower their price target for Galapagos. They are introducing the new arrangements between Galapagos and Gilead into their model, pulling US sales of filgotinib for the two inflammatory bowel diseases (Crohn’s disease and ulcerative colitis) out of more and more agreement that Gilead will use the drug for them in the US. .
The valuation of filgotinib in the model of KBC Securities from 11 to 5 euros per share. If analysts add the expected cash position of 3.7 billion euros for 2022, they arrive at a price target of 60 euros per share against 66 euros previously.
Galapagos is currently valued below its expected 2023 cash position. Nevertheless, KBC Securities maintains a ‘hold’ advice due to a lack of catalysts that can fuel the share price.
Germany and the Netherlands
The news flow around aedificAn
remains very busy. On Friday, the healthcare real estate group announced the acquisition of a reed-let residential care center in Borna, Germany, for 15 million euros.
This morning, Aedifica announced a partnership with Dutch developers Dunavast-Sonneborgh. The intention is to develop healthcare real estate together in the Netherlands. ‘By joining forces, we can add a new opportunity to create high-quality development projects to our investment program and continue to grow in the Dutch market,’ CEO Stefaan Gielens said in a press release. Aedifica remains stable at 109 euros.
wins 2 percent to 7.75 euros. The increased ESG ambitions of the postal and parcel carrier are encouraging analyst Thomas Couvreur of KBC Securities. Bpost announced its ambition to increase the electrification of its vehicle fleet – for home delivery – from 50 percent to 100 percent by 2030. .
Bpost did not provide any financial details, but Couvreur believes the investments will fall within the previous year’s free financial framework. He therefore does not expect to make major changes to his model in the short term. He maintains his price target of 11 euros possible potential opportunities and his advice from ‘buy more’ to ‘buy more’.
fell 0.7 percent to 5,370 euros. The Boone family sold 8 percent of its shares through the stock exchange last week. As a result, the free float has grown internationally and the shareholding has become.
In an interview with De Tijd, Jan Boone does not hide that it is his ambition to get into the Bel20. Today’s split symbolizes what we have laws in all these years.