Galapagos Biopharma, Sanctioned by the Spanish Registry After Being Absorbed by Alfasigma

The Spanish subsidiary of the Belgian biopharmaceutical company Galapagos Biopharma has been sanctioned by the Commercial Registry to a provisional closure of the registration sheet for a period of six months. The institution cites a situation provided for in article 231, when the registration of a company resulting from an absorption does not coincide with the registration of the other companies participating in the merger.

This sanction comes after the Spanish subsidiary of Galapagos was absorbed on September 2nd by the subsidiary of Alfasigma, an Italian pharmaceutical company owned by the Golinelli family. This move was preceded last June by an extensive renewal of positions on the board of directors.

According to the regulations, the absorption operation cannot be carried out without a note signed by the registrant corresponding to the domicile of the companies being dissolved, stating that there is no registry obstacle to merging.

Alfasigma has agreed to purchase 400 Galapagos positions in fourteen European countries

Following the changes made at the beginning of the summer, Samara Orsatti, Alfasigma’s financial director, is now the chairman of the board, replacing Michele Manto, the Italian pharmaceutical company’s current commercial director in Eastern Europe. Márcio F. Antunes Rodrigues, Alfasigma’s managing director in the Iberian Peninsula, will join Orsatti as a board member.

At the beginning of the year, the Italian group announced the purchase of the drug Jyseleca from Galápagos for 170 million euros. This is a compound aimed at patients with ulcerative colitis and rheumatoid arthritis. In the press release issued at the time, Alfasigma announced that it intended to organise a phase III clinical trial to obtain a third indication for the treatment. Galápagos was expected to participate with an investment of forty million euros.

The agreement provided for the acquisition of the entire Jyseleca business, which included approximately 400 positions in Galapagos in fourteen European countries, including Spain.

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(Featured image by padrinan via Pixabay)

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First published in PlantaDoce. A third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.

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