Risks related to Galapagos’ competitive position
Galapagos faces significant competition for its drug discovery and development efforts, and if it does not compete effectively, its commercial opportunities will be reduced or eliminated.
The biotechnology and pharmaceutical industries are intensely competitive and subject to rapid and significant technological change. Galapagos’ competitors may develop drug products that render its products obsolete or non-competitive by developing more effective drugs or by developing their products more efficiently. In addition, Galapagos' ability to develop competitive products would be limited if its competitors succeeded in obtaining regulatory approvals for drug candidates more rapidly than Galapagos were able to or in obtaining patent protection or other intellectual property rights that limited Galapagos' drug development efforts.