21st Dec 2016 14:02
LONDON (Alliance News) - Vectura Group PLC Wednesday said Swiss drugmaker Novartis AG has inked a licensing agreement with Sunovion Pharmaceuticals Inc for the US commercial rights to three treatments for chronic obstructive pulmonary disease.
The licence is for Ultibron Neohaler inhalation powder, Seebri Neohaler inhalation powder and Arcapta Neohaler inhalation powder, and is specific to the US. Vectura receives royalty revenue from Novartis for these products, which utilise Vectura's inhaler technology.
Sunovion is a US unit of Japan's Sumitomo Dainippon Pharma Co Ltd.
"We are pleased that Novartis has signed this licensing agreement with Sunovion to bring Seebri and Utibron to the US market. We are confident that with its established US respiratory focus and commercialisation expertise Sunovion will be a strong partner," said Chief Executive Officer James Ward-Lilley in a statement.
"The launch of these products in 2017 will give doctors new treatment options for their COPD patients. We look forward to the successful US commercialisation of these products and the further contribution they will make to the substantial existing recurring and growing royalty stream we receive from Novartis as reported in our recent interim results," Ward-Lilley said.
Shares in Vectura were down 2.3% at 133.50 pence Wednesday afternoon.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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