Notice of Interim Results

Notice of Interim Results

Chippenham, UK - 6 August 2020: Vectura Group plc (LSE: VEC) ("Vectura" or "the Group"), an industry-leading inhalation CDMO, plans to announce its Interim Results for the six-months ended 30 June 2020 on Tuesday 15 September 2020. 

Will Downie, Chief Executive Officer, and Paul Fry, Chief Financial Officer will host a live webcast and conference call for analysts at 9:30am BST on the morning of the results.

Access to the webcast and presentation slides will be made available on Vectura's website.

Change to presentation of financial results

Following Vectura's strategic shift to become an inhalation CDMO, the Group has updated the presentation of expenses on the Income Statement to better reflect the activities and priorities of the new organisation. Results will be reported in line with the updated presentation from H1 2020 onwards, with prior period comparative results restated for comparison.

The costs of central functions that were focused on supporting the Group's R&D efforts under its previous strategy, and therefore reported as an R&D expense, will now be reported within 'general and administrative' expenses, reflecting the fact that these functions are focused on supporting a wider number of business priorities. This change in presentation is intended to aid comparison against other CDMO companies.

Under the new Income Statement presentation, R&D will comprise the costs of delivering existing co-development partner programmes, most notably VR2081 with Sandoz and the generic Ellipta® co-development agreement with Hikma, and the cost of investment in platform technologies to support future revenue growth. Costs to deliver new CDMO contract revenues will be recorded as an expense within 'cost of sales'. 

This change does not impact the presentation of revenue or EBITDA. Re-presented 2020 guidance reflecting this change will be provided at the Interim Results, along with historical comparator data. 

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For more information, please contact:

Vectura Group plc

Elizabeth Knowles - VP Investor Relations +44 (0)7767 160 565

David Ginivan - VP Corporate Communications +44 (0)7471 352 720

Consilium Strategic Communications +44 (0)20 3709 5700

Mary-Jane Elliott / Sue Stuart / David Daley

About Vectura

Vectura is a provider of innovative inhaled drug delivery solutions that enable partners to bring their medicines to patients. With differentiated proprietary technology and pharmaceutical development expertise, Vectura is one of the few companies globally with the device, formulation and development capabilities to deliver a broad range of complex inhaled therapies. 

Vectura has eleven key inhaled and eleven non-inhaled products marketed by partners with global royalty streams, and a diverse partnered portfolio of drugs in clinical development. Our partners include Hikma, Novartis, Sandoz (a division of Novartis AG), Mundipharma, Kyorin, GSK, Bayer, Chiesi, Almirall, and Tianjin KingYork.

For further information, please visit Vectura's website at www.vectura.com

Forward-looking statements

This press release contains forward-looking statements, including statements about the commercialisation of products. Various risks may cause Vectura's actual results to differ materially from those expressed or implied by the forward looking statements, including: commercial limitations imposed by patents owned or controlled by third parties; dependence upon strategic alliance partners to develop and commercialise products and services; difficulties or delays in obtaining regulatory approvals to market products and services resulting from development efforts; the requirement for substantial funding to conduct research and development and to expand commercialisation activities; and product initiatives by competitors. As a result of these factors, prospective investors are cautioned not to rely on any forward-looking statements. We disclaim any intention or obligation to update or revise any forward looking statements, whether as a result of new information, future events or otherwise.