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Annual Report 2021
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The Galapagos group
Letter from the management
COVID-19 impact
At a glance
Strategy
Going concern statement
Risk management and internal control
The Galapagos share
Overview of Galapagos NV
Disclaimer and other information
R&D
Our pipeline and drug discovery engine
Versatile target discovery platform
Our inflammation franchise
Our first approved medicine
Jyseleca in RA
Jyseleca in UC
Filgotinib in CD
Our TYK2 program with GLPG3667
Our SIK program
Our fibrosis portfolio
About IPF
GLPG4716
Other pipeline
Our CFTR program with GLPG2737 in ADPKD
Our JAK1 program with GLPG0555 in OA
Our JAK1/TYK2 program with GLPG3121
Our R&D portfolio
Our R&D collaborations
Our collaboration with Gilead
Collaboration to further strengthen our commercial launch
Inlicensing to further strengthen the inflammation franchise
Our fibrosis collaborations
Other early-stage collaborations
Risk factors
Commercialization
Product development and regulatory approval
Financial position and need for additional capital
Reliance on third parties
Competitive position
Intellectual property
Organization, structure and operation
Galapagos shares
General statement
CSR report
Our commitment
Driving innovation
Our employees
Conducting business ethically
Environment, health, and safety
CSR at Galapagos – Summary
Reporting on EU Taxonomy
Corporate governance
Policies
Supervisory board
Committees
Management board
Share capital and shares
Shareholders
Remuneration policy
Remuneration report
Introduction
Supervisory board
Gross remuneration of management board
Equity components of the remuneration
5-year evolution
Pay-ratio
Minimum share ownership
Provisions for severance
Claw-back right
Deviations from the remuneration policy
Conflict of interests and related parties
Code of Business Conduct and Ethics
Statement by the supervisory board
Financial statements
Consolidated financial statements
Statements of income and comprehensive income/loss (-)
Statements of financial position
Cash flow statements
Statements of changes in equity
Notes to the consolidated financial statements
Notes 1-10
1.
General information
2.
Summary of significant transaction
3.
Significant accounting policies
4.
Critical accounting judgments and key sources of estimation uncertainty
5.
Segment information
6.
Total net revenues
7.
Operating costs and other operating income
8.
Staff costs
9.
Fair value re-measurement of warrants granted to Gilead
10.
Other financial income/expenses
Notes 11-20
11.
Income taxes
12.
Income/loss (-) per share
13.
Intangible assets
14.
Property, plant and equipment
15.
Other non-current assets
16.
Research and development incentives receivables
17.
Inventories
18.
Trade and other receivables and other current assets
19.
Current financial investments
20.
Cash and cash equivalents
Notes 21-30
21.
Share capital
22.
Deferred tax
23.
Lease liabilities
24.
Trade and other liabilities
25.
Deferred income
26.
Discontinued operations
27.
Note to the cash flow statement
28.
Off-balance sheet arrangements
29.
Contingent assets and liabilities
30.
Share based payments
Notes 31-35
31.
Related parties
32.
Consolidated companies as of 31 December 2021
33.
Financial risk management
34.
Statutory auditor’s remuneration
35.
Events after balance sheet date
Non-consolidated financial statements
Auditor's report
Report of the statutory auditor
Magazine
Foundation & future
Patient engagement
Launching a medicine
The Galapagos group
Letter from the management
COVID-19 impact
At a glance
Strategy
Going concern statement
Risk management and internal control
The Galapagos share
Overview of Galapagos NV
Disclaimer and other information
R&D
Our pipeline and drug discovery engine
Versatile target discovery platform
Our inflammation franchise
Our first approved medicine
Jyseleca in RA
Jyseleca in UC
Filgotinib in CD
Our TYK2 program with GLPG3667
Our SIK program
Our fibrosis portfolio
About IPF
GLPG4716
Other pipeline
Our CFTR program with GLPG2737 in ADPKD
Our JAK1 program with GLPG0555 in OA
Our JAK1/TYK2 program with GLPG3121
Our R&D portfolio
Our R&D collaborations
Our collaboration with Gilead
Collaboration to further strengthen our commercial launch
Inlicensing to further strengthen the inflammation franchise
Our fibrosis collaborations
Other early-stage collaborations
Risk factors
Commercialization
Product development and regulatory approval
Financial position and need for additional capital
Reliance on third parties
Competitive position
Intellectual property
Organization, structure and operation
Galapagos shares
General statement
CSR report
Our commitment
Driving innovation
Our employees
Conducting business ethically
Environment, health, and safety
CSR at Galapagos – Summary
Reporting on EU Taxonomy
Corporate governance
Policies
Supervisory board
Committees
Management board
Share capital and shares
Shareholders
Remuneration policy
Remuneration report
Introduction
Supervisory board
Gross remuneration of management board
Equity components of the remuneration
5-year evolution
Pay-ratio
Minimum share ownership
Provisions for severance
Claw-back right
Deviations from the remuneration policy
Conflict of interests and related parties
Code of Business Conduct and Ethics
Statement by the supervisory board
Financial statements
Consolidated financial statements
Statements of income and comprehensive income/loss (-)
Statements of financial position
Cash flow statements
Statements of changes in equity
Notes to the consolidated financial statements
Notes 1-10
1.
General information
2.
Summary of significant transaction
3.
Significant accounting policies
4.
Critical accounting judgments and key sources of estimation uncertainty
5.
Segment information
6.
Total net revenues
7.
Operating costs and other operating income
8.
Staff costs
9.
Fair value re-measurement of warrants granted to Gilead
10.
Other financial income/expenses
Notes 11-20
11.
Income taxes
12.
Income/loss (-) per share
13.
Intangible assets
14.
Property, plant and equipment
15.
Other non-current assets
16.
Research and development incentives receivables
17.
Inventories
18.
Trade and other receivables and other current assets
19.
Current financial investments
20.
Cash and cash equivalents
Notes 21-30
21.
Share capital
22.
Deferred tax
23.
Lease liabilities
24.
Trade and other liabilities
25.
Deferred income
26.
Discontinued operations
27.
Note to the cash flow statement
28.
Off-balance sheet arrangements
29.
Contingent assets and liabilities
30.
Share based payments
Notes 31-35
31.
Related parties
32.
Consolidated companies as of 31 December 2021
33.
Financial risk management
34.
Statutory auditor’s remuneration
35.
Events after balance sheet date
Non-consolidated financial statements
Auditor's report
Report of the statutory auditor
Magazine
Foundation & future
Patient engagement
Launching a medicine
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