4th Sep 2014 06:39
LONDON (Alliance News) - Vectura Group PLC Thursday said partner Novartis AG had confirmed that Pfizer Inc's UK unit has agreed an exclusive deal to commercialise the Ultibro Breezhaler and Seebri Breezhaler in the UK, a deal that moves Vectura a step closer to increased license payments and royalties for the products it developed.
"Both Novartis and Pfizer have extensive experience in respiratory medicine and are excited to provide two effective medicines for the maintenance bronchodilator treatment of chronic obstructive pulmonary disease to the estimated three million people living with the condition in the United Kingdom," Vectura said in a statement.
Vectura develops pharmaceutical therapies for the treatment of airways-related diseases, and then licenses them to major pharmaceutical companies. It has eight products marketed by partners and a portfolio of drugs in clinical development, a number of which have also been licensed to major pharmaceutical companies.
Seebri Breezhaler was licensed to Novartis in April 2005 by Vectura and its co-development partner, Sosei. To date, Vectura has received USD65 million from Novartis and, under the terms of the license, could receive up to an additional USD122.5 million when regulatory and commercialisation targets are hit for both the monotherapy and the combination product. In addition, it will get royalties on product sales if the product launches successfully.
The Seebri Breezhaler was launched in the UK in November 2012, while the Ultibro Breezhaler has not yet been launched in the country.
By Steve McGrath; [email protected]; @stevemcgrath1
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