Company: GLPG
Filing Date: 2025-03-27
Form Type: 20-F
Source: 0001558370-25-003806
Chunk: 64

Company: GALAPAGOS NV
Filing Date: 2025-03-27
Form: 20-F
Item: Item 3
Chunk 64
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 product candidates, or any prospects for commercialization or our products and product candidates. Claims could also be asserted under state consumer protection acts. If we cannot successfully defend ourselves against product liability claims, we may incur substantial liabilities or be required to stop development or, if approved, limit commercialization of our products and product candidates. Even successful defense would require significant financial and management resources. Regardless of the merits or eventual outcome, liability claims may result in:
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●   delay or termination of clinical trials;
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●   injury to our reputation;
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●   withdrawal of clinical trial participants or difficulties in recruiting new trial participants;
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●   initiation of investigations by regulators;
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●   costs to defend or settle the related litigation;
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●   a diversion of management’s time and our resources;
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●   substantial monetary awards to trial participants or patients;
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●   decreased demand for our approved product, any future products, or our product candidates;
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●   product recalls, withdrawals or labeling, marketing or promotional restrictions;
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●   loss of revenues from product sales; and
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●   the inability to commercialize our approved product or any of our product candidates, if approved.
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Our inability to obtain and retain sufficient product liability insurance at an acceptable cost to protect against potential product liability claims could prevent or inhibit the development or commercialization of our products and product candidates. We currently carry clinical trial liability insurance and product liability insurance at levels which we believe are appropriate for our clinical trials and our commercialization activities. 

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Although we maintain such insurance, any claim that may be brought against us could result in a court judgment or settlement in an amount that is not covered, in whole or in part, by our insurance or that is in excess of the limits of our insurance coverage. Our insurance policies also have various exclusions, and we may be subject to a product liability claim for which we have no coverage. We will have to pay any amounts awarded by a court or negotiated in a settlement that exceed our coverage limitations or that are not covered by our insurance, and we may not have, or be able to obtain, sufficient capital or other assets to pay such amounts and our business operations could be impaired. We may not be able to maintain insurance coverage at a reasonable cost or to obtain insurance coverage that will be adequate to satisfy any liability that may arise.
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Our relationships with customers and third-party payers may be subject, directly or indirectly, to applicable