Galapagos Walks Back Split Plans, Raising Questions Over Cell Therapy Assets
Galapagos has decided not to proceed with its previously announced plan to split into two listed entities, which led to its shares rising by as much as 7%1.
The company has appointed Henry Gosebruch as its new CEO, signaling a potential shift in strategic direction1.
Earlier this year, Galapagos planned to allocate €2.45 billion in cash to a new entity as part of the split1.
Analysts anticipate that Gosebruch, now managing €3.3 billion in cash, is likely to divest Galapagos’s CAR T (chimeric antigen receptor T-cell) business, raising questions about the long-term viability of its cell therapy assets12.
The reversal of the split and uncertainty about the future of the cell therapy unit has led to renewed interest in the company's valuation, with some analysts considering the stock attractive due to its trading price being significantly below its cash reserves1.
The halt to the split process has brought into focus how Galapagos will handle its cell therapy portfolio going forward and whether these assets remain central or will be divested2.
Sources:
1. https://www.tradingview.com/news/reuters.com,2025:newsml_L8N3RL0GP:0-galapagos-jumps-after-it-walks-back-on-spinoff-appoints-new-ceo/