Home › Business › Business, engineering degrees among U.S. News Best Online Programs rankings Louisiana Tech University’s Professional Master of Business Administration (MBA) and online Master of Engineering and Technology Management (ETM) programs are among the 2025 Best Online Programs rankings released today by U.S. News & World Report. The online MBA is the highest ranked program…
In South Africa, demand for pork outweighs supply, necessitating the import of around 25 000t of pork meat every year. This provides local pig farmers with an opportunity to plug the gap. Photo: Wikimedia Commons
The senior marketing manager opens up to Tim Healey about life at the for-profit clothing company that wears its social conscience proudly on its sleeve.You’ve had a fascinating career, from being a road cyclist to brand management at O’Neill, Etnies and Thirtytwo at Sole Technology, retail marketing at Burton Snowboards and involvement with non-profits such as ShiftCyclingCulture and Surf for Freedom. On top of that, you have published sports stories and photography. When did you find marketing and how did you end up at Patagonia?You could argue I grew up in a van. My parents had this Volkswagen T3 van and we would go to Norway every winter and every summer. We would drive around the country, camp outside, go fishing and do all kinds of outdoor sports. So that’s really where my love for nature and the outdoors started. My very first snowboard lesson was paid with a bottle of whiskey my parents brought over from the Netherlands.When I was 14, I went with my dad and a friend who lives in Norway to cycle around the country and on every climb I would ‘drop them’ – I would be way stronger than them. They encouraged me to get into cycling, so I did and got pretty good at it. I rose up in the ranks and raced all around the world until I was 24.At the same time, I was studying at Johan Cruyff University, which allowed you to combine your sports and study at the same time. Once I had graduated, I knew I wanted to do something other than cycling. I had a love for outdoor sports but racing bikes stopped me from pursuing them, so after quitting I really got into snowboarding and surfing, which led me to O’Neill and down the path of outdoor and action sports – and storytelling around those activities.I really loved storytelling, especially through photography, as an art form both professionally and privately. That is part of what brought me to Patagonia but growing older, I also became more and more aware of the environmental issues we face. When I was younger, in my first days at O’Neill, I got sent to do a photo shoot in Hawaii – and at that stage in my life, it was the best thing that could happen to me. Now, more than 20 years later, my drivers have changed. For example, we support grassroots NGOs working on root causes and we recently managed to protect a wild river in Croatia that was endangered by construction of a hydropower plant. Right now, that kind of campaign is the most rewarding thing for me to be involved with. It’s been a long journey to where I am today. It has not been a series of logical steps like many career paths. For me, it’s really been about following my heart and dreams. For example, every brand that I have worked for I absolutely loved. O’Neill was a brand I really loved. In high school, I would read snowboarding magazines from cover to cover, so when Burton knocked on my door, I knew all their snowboard models already so that made sense. What drew me to Sole Tech (Sole Technology) was not only the sports but also their mission to be carbon neutral which excited me to get involved.Jelle presents a keynote lecture at OMR FestivalWhen was the first moment that you thought: “I get this marketing thing, this is me. This is my world?”Focusing on storytelling and photography I got to meet a lot of photographers and started seeing the good from the bad, and noting the excellent too. I realized the power of amazing images. Music, art, photography and film all have the ability to affect people and change their minds and you can weave in a narrative. I also saw that marketing could make a difference. I was working for this small NGO that was taking women out surfing in Iran, founded by a really impressive lady called Easkey Britton. I joined her organization to take photos and using those images to tell a story was very effective: I saw how you can build bridges and educate people and that really opened my mind to what marketing can do. Another example might be this: I have a friend who broke his neck while mountain biking and has been paralyzed from the neck down for nine years. Together with a wider group of friends, we set up this fundraiser event for him with a lot of storytelling around it. Some of his friends are among the brightest storytellers and marketeers you can find and within five weeks, we raised €350,000. We had the biggest bands in the Netherlands reaching out to us if you could play at this event. This helped my friend start an organization called Neuromove, which helps spinal cord injury patients with the aim of bringing Activity Based Therapy to the Netherlands and improving their quality of life. Through that, I really learned about collaboration, building momentum around good causes and how money can’t pay for the feeling you get from using your talents to help people. Patagonia’s clothes are designed to last a lifetime and be easily repairedFrom the last report that I can find, which is a couple of years old, Patagonia’s turnover was $1.5bn, you’ve got 3,000 employees, all of which puts you as a market leader in outdoor wear. But that – it could be argued – is small news compared with gestures like the $5.2m Patagonia spent on an 8,000 acre piece of land in Clark County, Alabama earlier this year. In short – it looks like everything’s going well for the business, but you’re also achieving great things for the environment. What does 2025 look like for you?We’re a privately owned company, so we don’t disclose the precise financials, but we do publicize the work we’re doing together with our partners – NGOs and charities. We work with thousands of groups all around the world and support them in all their work, through grants and through marketing activations. We have a platform called ‘Patagonia Action Works’ which allows us to do this.Next, there are our products: the way they are built is of the highest importance to us. We recognize that the market landscape can be challenging, but we know that customers look more for authentic, high-quality brands and that there is a growing interest in outdoor sports. Next on the horizon for us is to make sure that we educate customers about our core sports and how you treat the places you get to play in. This is how we want to build a truly inclusive community. We keep building quality gear. We keep challenging ourselves to do better. We started in the early ‘90s on our journey to using organic cotton. Within 15 years, our full line was organic cotton. But if you look on a global scale, at that time 1% of all cotton worldwide was organic. Sadly, it is still 1% of cotton worldwide that is organic. That means we still have work to do to really get other brands and companies on the same journey as us. Wetsuits are a great example of that. We have started making our wetsuits from natural rubber about 10 years ago and now you see more and more brands following us, which is great. Could you summarize please: what is Patagonia and what is your offer?We’re a brand founded in 1973 by a climber and surfer called Yvon and at that time, he and his friends were making removable climbing pitons that you hammer into the cliffs or mountainsides – they are a matter of life and death and how you secure yourself while climbing.Previously, pitons were left where you used them – but with these ones you could remove them once you have climbed. That philosophy was translated into our clothing with the inception of Patagonia. We build products for outdoor sports. We call them silent sports. They range from surfing to snowboarding, skiing, climbing, trail running and fly fishing. We are best described as a responsible business. We try to be as responsible as we can as we build these products for example through the use of preferred materials or Fair Trade certificationsThen the other side is the activist company. 1% of our revenue goes to grassroots environmental groups all around the world. And just recently, the ownership structure changed. We’re an unapologetically for-profit business, but on top of our work with 1% For The Planet, everything that is not reinvested into the company goes to the foundations we support and they invest in all these bigger projects around environmentalism.Patagonia founder, Yvon Chouinard, back in the dayFull transparency: I co-wrote this book called Better Business On Purpose and we championed Patagonia. In my opinion, Patagonia is a really good example of a brand that walks the walk and doesn’t just talk the talk. How much of a figure is your founder Yvon Chouinard in the business today, and how much does his philosophy follow through in everything that you guys do?We’re an organization where everything is rooted in our core values. We are a for-profit business with everything that comes with that, but always with these core values leading any conversation. I hear that our global board meetings are most about the impact Patagonia can have and that really describes the company Patagonia is, [putting] planet and people before profits.There’s a philosophy that has been handed down from the original founders and that is kept alive within the business. We often look back a lot at the things the company was doing back in the ‘70s and we even have internal philosophy classes from people who were around in those times. We learn about why things need to be built to last: because it’s crucial for people and planet. Our founder, Yvon, doesn’t have a computer. You may find him in the office in Ventura, but he can also just be gone for three months and go fishing somewhere where nobody can reach him. The business doesn’t rely on him for the day-to-day but I would argue that the company completely operates on his philosophy. This creates really interesting internal conversations. You are constantly balancing the demands of the environment with business and challenging the status quo. It is how we work and how Yvon’s influence looms large.I watched your ‘Fashion is none of our business’ film before this interview. Where are you at on the value of emotional connection with campaigns?It’s all about emotion. That film was part of a bigger campaign which was focused on our quality through the lens of fashion, highlighting the fact that we are unfashionable. We have been building the same sort of gear for years and years, focusing on improving performance and impact, and don’t follow the latest trends. About a year ago, we launched a campaign to support NGOs in Iceland to ban open net fish farming. We try to figure out how we can touch people’s hearts with that campaign. Emotional connection is everything for us. The authenticity of storytelling is crucial, but emotion is what drives people to action. For a lot of our marketing, you won’t see just short-term conversion. We always prioritize the long-term view.In Patagonia’s sights: ending salmon farming in IcelandCould you tell me about Patagonia’s free repair service.We offer something which is called ‘Ironclad Guarantee’ for all our products. If you buy a Patagonia product and it needs to be fixed, we will repair it or replace it. Repair is an essential part of what we’re saying as a responsible business. We built high-quality products that are made to be repairable and we advocate about the fact that people should keep their gear in use for longer. We take great pride in ourselves when we see a photo of somebody wearing ‘his dad’s’ or ‘her mom’s’ jacket. That means we’re ‘getting it right.’As part of the design process, the team already makes sure that a product is repairable in case it breaks. It’s one of the 10 key design principles which every product must follow. These steps are essential for a product to go to market and reinforce quality every step of the way. If you rip a zipper on a Patagonia product, we have a repair portal where people can easily submit their repair, send it over to us and have it fixed. We have different repair partners in different territories but we also go on the road with several vehicles around Europe, repairing not only Patagonia clothing, but also other brands. We see this as an educational tool because people need to understand that you should repair your stuff. This also comes back to the emotional connection. A product is not just a product: the sweater you might be wearing was also being worn when you had certain experiences. Our clothing or equipment literally carry stories in them. Patagonia’s mobile repair shops have championed the value and environmental impact of making clothes lastHow do you surf the tsunami of making the best technology choices for Patagonia’s marketing?We’re often held in high regards but I wouldn’t describe Patagonia as an organization that is pushing technology boundaries in marketing. We tell our stories through the tools we know and understand and we are very cautious about technology and new platforms. In 2020 we joined an initiative called ‘Stop Hate For Profit’ – a group of brands that do not advertise on Facebook. Since then, we have never gone back and have also stopped advertising on X. Compared to those who chase the latest technology, we’re probably on the other side of the spectrum where our moral standards come into play and we question what is the ‘right thing’ and what isn’t. Of course we monitor developments, but always consider: how do we have honest conversations with our customers? Sometimes the best form of marketing for us is having 25 people in the store having an in-person conversation rather than a lot of buzz online.This approach is deeply ingrained in our company culture. Everybody who works at Patagonia cares about these things. You don’t just have a set of KPIs, and if you don’t hit them, you’re not successful. We think deeper. We see Patagonia as an experiment in the way of doing business. It’s a 100-year experiment, and we’re halfway in. Everything we do, we also consider the impact of those actions over the next 50 years.I’m privileged to work for a company like Patagonia, where I am constantly challenged – and I can challenge myself and the teams to think differently. For a lot of other companies, the bottom line is the only thing that is important. In 2020 we did about 95% of our digital advertising on Facebook and it was working well for us. But leaving Facebook was 100% the right thing to do at that time and a decision I was very comfortable with.Founder Yvon Chouniard speaks to the Patagonia team at a company away dayWhat initiative delivered on your watch are you the most proud of?It’s all a team effort at Patagonia. If you look at any successful campaign we have done, we are not a top-down organization. We recognize that the best ideas are the best ideas – wherever they come from within the organization. We meet and discuss everything in great detail – sometimes to the frustration of others. But that creates just better products and better initiatives. In 2018 we launched a film called ‘Blue Heart’ in support of environmental groups fighting to save wild rivers in the Balkan region. The groups saw that there were more than 3,000 dams being built around the Balkans and that it is one of the only pristine regions in Europe where rivers are still flowing freely. If you dive deeper into what a wild, free flowing river actually means, it blows your mind and yet we have built dams all over Europe. The majority of these dams were funded by one bank, which was the European Bank for Reconstruction and Development. We really focused on them to change the policies and now they have. But even better, one of the rivers that had been marked for a dam, the Vjosa River in Albania, was declared a Wild River National Park in 2023. It’s an example of the achievements we are proud of and something where we can say: we had impact. That’s environmentalism. Patagonia successes: Patagonia supported the campaign to suspend plans to dam the Vjosa river and have it declared a national parkWhat myth about marketing would you most like to bust?I think the concept of marketing in the modern world needs to be myth-busted. Marketing has become a dirty word. All marketers together should come together and ask: “What the hell are we doing?” Marketing started with a shop or a small brand doing something to make sure people knew about them. Along the way, it mutated into: “How can we fool people enough to buy our products?” Marketing is storytelling – but is should be telling honest, true stories and making sure people know why they should believe in your brand and buy your products. Every marketer at every level should challenge themselves and ask “are we being honest and real?”What advice might you give your younger self if you could go back in time, what should you do more of and what should you avoid?I would advise myself to stop being insecure: just be yourself and follow your own path.Your question from a fellow senior marketer is: tell us about a marketing failure you’ve been part of, and what did you learn from it?We are often talking about failing forward here because if you push boundaries, you will inevitably fail sometimes. Something that I’ve not been successful at as much as I had hoped is to operationalise everything. I have learned that there is no silver bullet and Patagonia is a complex organization. We support all of these groups. We have all of these different needs. We focus on all of these different sports. For our campaigns, we have to try and jam all of that into one season which is actually runnable. Through that, we learned that we can’t do everything. We need to prioritize and stay true to the things we are good at – for example telling authentic stories around our product impact and environmental action.
Want to go deeper? Ask The Drum
If you were interviewing a senior marketer, what question would you ask them?I would ask: what are you and your job doing to make the world a little bit a better place? If there’s one thing you know about marketing, it is…People should not underestimate the power of storytelling. The world is built on narratives and that is in essence all marketing.You might die tomorrow so make it worth your while. Worth Your While is an independent creative agency helping brands do spectacular stuff people like to talk about. wyw.agency.Tim Healey, is founder and curator of Little Grey Cells Club, the UK’s premier Senior Marketer meet up.
Watch more of our videos on ShotsTV.com and on Freeview 262 or Freely 565Visit Shots! nowHaving restored the sparkle of more than 5,000 ovens over the past 10 years, Anna Mason is preparing to put her award-winning oven cleaning business, Ovenu Burton, on the market.In 2015, Anna transitioned from her former roles in hospitality and finance administration, to fulfil her dream of becoming her own boss, and is now seeking a buyer to take on the thriving franchise once she steps down in September.The turnkey business, with £16,000 worth of work already on the books, offers a fantastic opportunity for an ambitious individual to grow the business or enjoy the flexibility it provides to achieve an improved work-life balance.Taking in the South Derbyshire and East Staffordshire postcodes of DE13, DE14 and ST14, it covers Burton-upon-Trent, Alrewas, Uttoxeter, Barton-under-Needwood, Tutbury and surrounding areas.Anna Mason of Ovenu BurtonAnna said: ‘This business is my pride and joy, and I reckon to have restored around 5,000 ovens to near showroom condition during my time. The job satisfaction it creates is huge, and the pleasure it gives my customers when they see the finished product is priceless. I’ll genuinely miss the many lovely clients that I’ve met over the last 10 years.“However, the time is right for me to embrace a more relaxed pace of life, and I’m seeking the right buyer to take over the reins and ensure a seamless transition.”Ovenu Burton is a well-established business with low overheads, great earnings potential, and a large and loyal client base. The sale includes a fully equipped, branded van, all necessary tools, and eco-friendly cleaning products. Its strong earning potential means it’s ideal for both first-time business owners and seasoned entrepreneurs, while comprehensive training and ongoing support from Ovenu ensures any new owner will possess all the elements necessary for success.Anna, who is still accepting bookings, added: “I’ve really enjoyed being my own boss, and this business has tremendous potential for growth.”Rik Hellewell, founder and managing director of Ovenu, said: “Anna has been a fantastic ambassador for the Ovenu franchise, delivering exceptional service to her clients and creating a highly successful business. Our proven business model offers a professional, practical, and profitable path to success, which she has exemplified.”Continue Reading
By Samuel OSAE ANSAH& Lydia Badu DANQUAH Are you nurturing a business idea, a startup or running a thriving business informally? Have you thought of registering and formalizing the business or idea? Business registration is a crucial step toward legitimacy, growth and increased opportunities. Why the need to register your business? Business registration gives you…
Deal Overview
On January 8, 2025, Galapagos NV. (US Nasdaq ADR: GLPG; $23.76, Market Capitalization: $1.56 billion), announced its plans to split into two listed entities by mid-2025 by spinning off its activities focused on innovative medicines. The SpinCo will be focused on building a pipeline of innovative medicines with robust clinical proof-of-concept in oncology, immunology, and/or virology through strategic business development transactions. SpinCo will have a seasoned leadership team and Board of Directors with a proven track record of biotechnology company-building and strategic transaction experience to manage and oversee SpinCo independently.
The remaining Galapagos entity will specialize in cell therapy, focusing on its lead CAR-T candidate, GLPG5101, currently being tested for relapsed or refractory non-Hodgkin lymphoma.
Additionally, the new Galapagos will undergo a comprehensive strategic realignment, which involves discontinuing its small molecule programs. These programs will be offered to potential partners.
The plan is for both companies to be listed on Euronext.
The group’s American partner and shareholder Gilead Sciences will hold about 25% of the shares in both Galapagos and the newly created firm following the split. The reorganization is expected to lead to the reduction of around 300 positions in Europe, or around 40% of the group’s workforce.
Galapagos Price Performance Spin-Off Details and Top 5 ShareholdersSpin-Off Research
The completion of the spin-off of SpinCo is subject to the satisfaction of customary conditions, including concluding consultations with works councils in the Netherlands, Belgium, and France, and receipt of approval from Galapagos shareholders. All Galapagos shareholders will receive SpinCo shares on a pro rata basis, determined by their Galapagos shares as of a specified record date, in accordance with Belgian law.
The management emphasized that the separation is a “crucial move” for the company to unlock substantial value for its shareholders. This step will position Galapagos for sustainable growth, value creation, and future success with its renewed focus on cell therapies.
The new innovative medicines division, still unnamed, will receive around $2.5 billion from Galapagos. It will concentrate its drug development on oncology, immunology, and virology. This entity will prioritize ”strategic business development transactions” to expand its pipeline, a strategy mirrored in its leadership team, which will feature professionals with proven success in securing deals.
Goldman Sachs International served as the financial advisor to Galapagos in reviewing its strategic alternatives for this transaction. Lazard acted as the independent financial advisor to Galapagos, specifically for its independent Directors. Baker McKenzie provided legal advice to Galapagos, while Allen Overy Shearman Sterling advised the independent Directors. TD Cowen and J.P. Morgan Securities LLC were the financial advisors to Gilead.
Deal Rationale
Galapagos NV, a Belgian biotechnology company, has announced its intention to spin-off one of its business units into a new, independent entity. Galapagos has been a leader in developing innovative cell therapies to address high unmet medical needs. The company will retain its robust pipeline and global development and commercialization rights, which were recently expanded through an amended agreement with Gilead Science. Post separation the focus areas for SpinCo will include oncology, immunology, and virology.
The reorganization initiative came on the back of more than 90% correction in the company’s value since 2020 as the company faced multiple set backs. Firstly, the company faced significant setbacks in its clinical trials, particularly with its rheumatoid arthritis drug, filgotinib, which failed to gain FDA approval. Additionally, the termination of several other pipeline programs and disappointing clinical trial results contributed to the decline. The COVID-19 pandemic also impacted the company’s operations and investor confidence.Key DataSpin-Off Research
By creating two publicly traded entities, Galapagos aims to unlock shareholder value, with each entity having a distinct strategic focus, allowing investors to better assess and invest in specific areas of interest. The separation enables each entity to pursue its growth strategy independently: Galapagos will advance its cell therapy platform, while SpinCo will build a diverse pipeline of innovative medicines through strategic acquisitions and partnerships. With distinct operational focuses, both entities can streamline operations and allocate resources more effectively, leading to improved decision-making and faster execution of strategic initiatives.
Galapagos will continue to build on its leadership in cell therapy, particularly in oncology. Post separation, Galapagos expects to have about €500 million in cash and the firm aims to address high unmet medical needs by advancing its pipeline of cell therapies and expanding its global, decentralized manufacturing network. In addition, the amended agreement with Gilead Sciences grants Galapagos full global development and commercialization rights to its pipeline, subject to royalties on certain products. This enhances Galapagos’ ability to independently realize the full potential of its cell therapy platform.
In addition to the separation, Galapagos’ strategic reorganization involves a 40% reduction in its workforce. The company intends to discontinue its small molecule discovery programs and seek potential partners to take over its small molecule assets, including the TYK2 inhibitor, GLPG3667, which is currently in Phase 2 trials for systemic lupus erythematosus, dermatomyositis, and other potential autoimmune indications.
Following the planned reorganization, Galapagos expects its normalized annual cash burn to be between EUR 175 million and EUR 225 million, excluding restructuring costs.
SpinCo: SpinCo will leverage its substantial cash reserves to pursue strategic business development opportunities. The focus will be on acquiring and developing innovative therapies in oncology, immunology, and virology. With a dedicated focus on building a pipeline through transformational transactions, SpinCo aims to bring innovative therapies to patients facing unmet medical needs. This approach allows SpinCo to rapidly expand its portfolio and address critical health challenges.
Galapagos NV is a biotechnology company focused on developing transformative therapies in two key areas: cell therapies and innovative medicines. In cell therapies, it specializes in CAR-T treatments for cancers like non-Hodgkin’s lymphoma, using a decentralized manufacturing model to deliver therapies faster and more efficiently. In innovative medicines, Galapagos develops small-molecule drugs for inflammatory and immunological diseases. The company leverages advanced R&D platforms and strategic acquisitions to address unmet medical needs globally.
Cell Therapies: Galapagos NV is advancing cell therapies through its innovative decentralized manufacturing platform, which allows for the rapid production and delivery of CAR-T cells within a median vein-to-vein time of seven days. This approach enhances patient access to life-saving treatments, particularly for those with rapidly progressing cancers. The company is focused on developing next-generation CAR-T therapies for both haematological and solid tumours, aiming to transform patient outcomes by providing more effective and timely treatment options.
Innovative Medicine: In addition to cell therapies, Galapagos NV is committed to discovering and developing small molecules and biologics in oncology and immunology. The company leverages its extensive research capabilities and strategic collaborations to build a diverse pipeline of precision medicines. By focusing on high unmet medical needs, Galapagos aims to deliver solutions that improve the quality of life for patients worldwide.
Portfolio Overview
Galapagos NV’s portfolio is centered around its expertise in immunology and oncology, with a robust pipeline of drug candidates across various stages of development.
Immunology: Galapagos has developed treatments for autoimmune diseases, with its flagship product being filgotinib, marketed under the brand name Jyseleca®. Filgotinib is approved for the treatment of rheumatoid arthritis and ulcerative colitis in Europe and Japan (it divested its Jyseleca business to Alfasigma). The company is also advancing its TYK2 inhibitor, GLPG3667, which is in Phase 2 trials for dermatomyositis and systemic lupus erythematosus (SLE). These programs reflect Galapagos’ focus on addressing significant unmet medical needs in inflammatory and autoimmune conditions. Galapagos plans to discontinue its small molecule discovery programs and seek potential partners to take over current assets, including the TYK2 inhibitor, GLPG3667, dermatomyositis, and other potential autoimmune indications.
Oncology: In oncology, Galapagos is developing a pipeline of CAR-T cell therapies. Key candidates include GLPG5101 for non-Hodgkin lymphoma (NHL). GLPG5201 for chronic lymphocytic leukaemia (CLL) and Richter transformation (RT). GLPG5301 is a BCMA CAR-T candidate for multiple myeloma (MM) in Phase 1/2 trials. These CAR-T programs leverage Galapagos’ innovative point-of-care manufacturing platform, enabling decentralized and scalable cell therapy production close to patients, reducing logistical challenges and improving treatment timelines.
Discovery Programs: Beyond its clinical-stage assets, Galapagos has over 15 discovery programs in both immunology and oncology. These include small molecules and biologics aimed at addressing high unmet medical needs. The company’s CellPoint B.V. and AboundBio acquisitions have further strengthened its capabilities in CAR-T therapies and antibody-based therapeutics, expanding its reach into precision oncology.
Revenue Generation
Galapagos generates revenue through multiple streams, primarily driven by its R&D collaborations, licensing agreements, and product sales.
Collaborations and Licensing: Revenue for Galapagos’ in FY23 came from its collaboration agreements, particularly with Gilead Sciences. The partnership with Gilead includes developing and commercializing filgotinib, with Galapagos receiving milestone payments, royalties, and revenue-sharing from sales. Collaboration revenue in FY23 is €230.2 million and revenue from Royalties is €9.5 million.
Product Sales: Galapagos earns revenue from the sales of Jyseleca® (filgotinib) in Europe and Japan. However, the company recently divested its Jyseleca business to Alfasigma, transferring the associated commercial, medical, and development activities. This move allows Galapagos to focus on its R&D pipeline.Revenue TrendSpin-Off Research
9M24
Total revenue grew 11.3% YoY to €200.2 million, primarily due to €19.1 million of revenue from the supply of Jyseleca to Alfasigma. Collaboration revenues grew by 0.7% YoY to €181 million. The revenue recognition related to the exclusive access rights granted to Gilead for the company’s drug discovery platform amounted to €172.7 million, remaining flat YoY. R&D expenses grew by 42.5% YoY to €238.2 million due to higher costs for cell therapy and small molecule programs in oncology. G&A and S&M expenses grew by 6.6% YoY to €238.2 million, primarily due to increased legal and professional fees, mainly related to business development activities and investments in strategic marketing for oncology. Operating loss of €125.6 million against Loss of €41.9 million in 9M23. Net loss from continuing operations is €20.4 million, compared to a net profit of €36.2 million in 9M23. Basic and diluted loss per share is €0.31 against Earnings of €0.55 in 9M23.9M24Spin-Off Research
FY23
Total revenue declined 0.6% YoY to €239.7 million. Collaboration revenues amounted to €239.7 million, compared to €241.2 million last year. The revenue recognition related to the exclusive access rights granted to Gilead for companies’ drug discovery platforms amounted to €230.2 million (compared to €230.4 million in FY22). The company also recognized royalty income from Gilead of €9.5 million (compared to €10.7 million in FY22). R&D expenses declined by 10.6% YoY to €241.3 million due to a decline in personnel costs, depreciation and impairment. G&A and S&M expenses declined by 3.3% YoY to €238.2 million, due to a decrease in personnel expenses and other operating expenses, partly offset by an impairment of €7.6 million on a construction project in Mechelen, Belgium. Operating loss of €88.3 million against Loss of €131.1 million in FY23. Net loss from continuing operations is €4.0 million, compared to a loss of €71.4 million in FY23. Basic and diluted loss per share is €0.06 against €1.09 in FY23.FY23Spin-Off Research
Company Description
Galapagos NV (Parent)
Incorporated in 1999, Galapagos NV is a biotechnology company headquartered in Mechelen, Belgium. The company focuses on developing medicines primarily in the fields of oncology and immunology, targeting both the United States and European markets. In cell therapies, it specializes in CAR-T treatments for cancers like non-Hodgkin’s lymphoma, using a decentralized manufacturing model to deliver therapies faster and more efficiently. The total number of employees at the end of June 2024 is 683.
Innovative Medicines Business (Spin-Off)
Innovative medicines business develops small-molecule drugs for inflammatory and immunological diseases. The company leverages its extensive research capabilities and strategic collaborations to build a diverse pipeline of precision medicines. The focus of SpinCo will be on acquiring and developing innovative therapies in oncology, immunology, and virology. With a dedicated focus on building a pipeline through transformational transactions, SpinCo aims to bring innovative therapies to patients facing unmet medical needs.Organization Structure Spin-Off Research
Home / BusinessBy Simon WilsonSenior Writer·NZ Herald·21 Jan, 2025 04:00 PM12 mins to readGift articleSaveShare this articleReminder, this is a Premium article and requires a subscription to read.Copy LinkEmailFacebookTwitter/XLinkedInRedditFounder of Untouched World Peri Drysdale with a display for the company’s Rubbish socks. Photo / Davina Zimmer, The Detail, RNZGood news for everyone hoping we’ll get on top of this climate thing: “The new transition is going to be led by accountants.”
At least, that’s what Gareth Hughes, a former Green Party MP, told the Climate Change and Business Conference last year. His point was
In a blistering and sweeping divorce victory, Julia Haart has been awarded control of the business she ran during her marriage to Silvio Scaglia and the $65 million apartment they lived in, as well as nearly $10 million in cash, Page Six has learned.
Haart told us Tuesday that, finally, “justice was served.”
The pair — who ran the Elite World Models agency and luxe lingerie firm La Perla together — have been locked in a complex and bitter court battle on several fronts since she told him she was divorcing him in 2022 and he responded by trying to fire her.
She claimed that he’d given her half of Freedom Holding — which owns EWG, as well as their apartment — in return for running the firm as its CEO, but he later claimed that she owned only a fraction of the company. Meanwhile, he accused her of several shocking misdeeds, including stealing money from a bank account and even taking a company Bentley for herself. (He never coughed up any evidence for those allegations when the time came to make that case in court.)
Julia Haart has won a resounding and wide-ranging victory in her divorce from business partner Silvio Scaglia. Dimitrios Kambouris
Haart now has control over Freedom Holding, the business they ran together, as well as their ultra-luxe former home. Instagram
Explore More
But Haart, who also starred in the Netflix reality show “My Unorthodox Life,” has resoundingly come out on top of every struggle between the exes, according to court papers seen by Page Six.
Judge Jeffrey Pearlman last week granted Haart a default judgment in the divorce, after — according to the docs — Scaglia stopped engaging with the proceedings. (As we’ve previously reported, a different judge in a different part of their court war put out an arrest warrant for Scaglia after he failed to fork over cash to Haart and then didn’t show up in court. He seems to have skipped town for Milan.)
In last week’s decision, Pearlman awarded Haart a 50% interest in Freedom Holding — but crucially he also awarded her power of attorney over Scaglia’s 50% as well, meaning she can make decisions on the company’s behalf without getting the sign-off from Scaglia.
Their 2022 split was covered in her Netflix show, “My Unorthodox Life.” Netflix
Per the judgment, she now also owns the stunning, 16-room Tribeca triplex penthouse that they lived in during their four-year marriage. (Haart’s been living in it since the split.)
According to the five-page judgment, Pearlman awarded Haart $7,400,000 in unpaid management fees for 2019 through 2021, and she also got half the proceeds of a Kees Van Dongen painting owned by Freedom Holding that Scaglia sold for $2,972,632.
He also awarded her half of the cash withdrawals Scaglia made from their businesses since the divorce began. That figure is still to be determined by the court, but it’s likely to be hefty.
The court gave Haart control over the company. Getty Images
Haart told Page Six, “Words cannot fully express the immense joy and gratitude I feel in my heart. Throughout this journey, I held steadfast to my belief in truth and justice, deeply trusting that if I stayed the course, the truth would ultimately prevail and the wrongs done to me would be made right. I am profoundly grateful to God for granting me the strength to persevere and to Judge Pearlman for holding Silvio accountable and ensuring that justice was served.”
Her attorney, Michael Beyda of Chemtob, Moss, Forman and Beyda, told us, “Julia Haart has faced immense challenges over the past three years, yet her resilience and commitment to her values have been unwavering.”
He added, “This victory is a testament to the power of staying true to oneself and refusing to stoop to the level of opposition. We are deeply grateful to Judge Pearlman for holding Mr. Scaglia accountable for his actions and inactions.”
In October, Haart also won an appeal in her fraud case against Scaglia. That decision allows her to continue to sue him and several others over allegations that he allowed her to believe she was being given 50% of Freedom Holding in return for working as its CEO.
Scaglia told us, “It’s a total joke! Freedom and its subsidiaries are a premarital asset that I purchased in 2011, long before I [met Haart] who was living in Monsey, N.Y…”
“She was nothing then, she is nothing now, and will be nothing in the future,” he said.
Organizational culture is the foundation of any successful business. As a CEO, your ability to shape and sustain a strong, positive culture directly impacts employee engagement, productivity, and innovation. For Ghanaian companies, a well-aligned culture can be the key to standing out in competitive markets and attracting top talent. Why Culture Matters to CEOs. 1.…
Watch more of our videos on ShotsTV.com and on Freeview 262 or Freely 565Visit Shots! nowNorth East tech and security solutions specialist Advantex Network Solutions, has announced plans to move forward under the sole leadership of Dave O’Connell, co-founder and one of the cornerstones of the business’s success for the past two decades.Founded in 2002 by brothers Dave and Steve O’Connell, Advantex has built a strong reputation as a trusted partner, supporting businesses, manufacturers, education and hospitality providers and local authorities across the region and beyond.The move comes as the Follingsby Park-based company, which is a leading integrator of IT, communications, and IP security solutions including cybersecurity, data networks, and IP camera and access control systems, has seen sales revenues double in 2024 on the back of work secured from the manufacturing, hospitality and education sectors.Projects for SeAH Winds, AESC, Hitachi, Sirus Group, Advance Learning Partnership and Newcastle International Airport together with a loyal customer base, see the business start the new year poised for further strong growth and a commitment to innovation and customer success through investment in services and industry talent.Dave O’Connell is excited to lead Advantex into a new chapter of growthFollowing an impressive 46% growth in team size over the past 18 months, the company plans to build on the 20 plus years of expertise in FY25 and into FY26 with recruitment for a raft of additional engineering, business support, sales and operations roles.Developing and expanding the business further, Dave O’Connell’s vision and leadership together with the management team, will ensure that Advantex not only upholds its legacy of delivering tailored and innovative solutions but also expands its footprint in the sector.He said: “Throughout our journey, we’ve built Advantex on the foundations of technical excellence and an unwavering commitment to our customers’ success. The significant growth we’ve achieved, particularly over the last 18 months, demonstrates the strength of our business model and the exceptional capabilities of our team.“As we move forward, we’re in a prime position to accelerate our growth plans, with a robust pipeline, strong financial performance, and most importantly, a talented team of 70 professionals who share our vision for innovation and service excellence. Our commitment to expanding our workforce and capabilities reflects our confidence in the opportunities ahead, and I’m excited to lead Advantex into this next chapter of growth.”Continue Reading