LONDON (Alliance News) - Vectura Group PLC said Wednesday it expects its 2016 revenue to be in line with management expectations, boosted by new product launches and positive currency movements.
Vectura, which develops devices and formulas for treating respiratory diseases, said the launch of seven products recently has provided it with a "strong base of recurring revenue".
The company also said reported revenue was boosted by the weakness of sterling against its main trading currencies, the US dollar and euro.
"Vectura starts 2017 in a strong position with significant progress made with the pipeline and sustained growth momentum in recurring revenues driven by the seven recently launched inhaled products," said James Ward-Lilley, chief executive officer.
"We look ahead now to reporting our 2016 preliminary results in March, further pipeline news flow and leveraging Vectura's proven device and formulation capabilities through additional business development opportunities," added Ward-Lilley.
By Adam Clark; adamclark@alliancenews.com
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