13th Feb 2014 12:00
LONDON (Alliance News) - Vectura Group PLC said Thursday that its performance in the period from October 1, 2013 to date had been in line with expectations.
During the period Vectura's partner Sandoz saw marketing authorisation for AirFluSal Forspiro, an inhaler for asthma or Chronic Obstructive Pulmonary Disease, in Denmark, Germany, Sweden, Hungary, Romania, Bulgaria, Norway in Belgium. The inhaler has been launched in Denmark and Germany. The approvals in Germany, Romania and Belgium triggered milestone payments to Vectura of around GBP1.2 million each.
COPD treatment Seebri Breezhaler, part of Vectura's partnered programme with Novartis International AG, reported sales of USD58 million for the 2013 calendar year on January 29.
Vectura will see new royalty streams starting in the first quarter from Novartis, following approvals for the Ultibro Brrezhaler last September in Japan and Europe. Novartis expects to see the US filing of both products in the fourth quarter of 2014.
Vectura also noted that it receives royalties from GlaxoSmithKline PLC's COPD treatments Breo Ellipta and Anoro Ellipta up to a cap of GBP13 million per annum. Breo Ellipta went on sale in the US last October, and in December Anoro Ellipta was approved by the US Food and Drug Administration.
"The ongoing approvals and launch of AirFluSal Forspiro de-risks our high-value respiratory generic portfolio in Europe and the rest of the world and triggers another new valuable royalty stream, in addition to the launch of Ultibro Breezhaler together with the continuing and successful roll-out of Seebri Breezhaler," said Chief Executive Chris Blackwell in a statement.
Shares in Vectura were trading down 0.2% at 155.25 pence Thursday.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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