VEC.L Share News (VEC)

(ShareCast News) - Drug company Vectura was upbeat on the development of its VR647 asthma drug following a meeting with the US Food and Drug Administration.Shares in the stock rose 0.28% to 176.70p on the news the FDA approved Vectura's pathway to producing the medication, which is specialised for children.Vectura interim chief executive Trevor Phillips said the FDA's feedback provided clear direction for any remaining studies.FinnCap, which held a 'buy' rating on the stock, said it expected a US launch for the drug in 2020, and kept forecasts unchanged.Analysts at Shore Capital, which also has a 'buy' rating on the stock, noted Vectura already had a strong success rate with generic and branded products in the drug market.However the lead time it required to develop smart nebuliser platforms and get regulatory approvals had significantly increased the risk profile of the business, Shore Capital analyst Brian White said in a note."Nevertheless, across its expanded pipeline Vectura currently has the potential to benefit from nine product launches through to 2021 and the opportunity to extend its commercial operations beyond its historic licensing model and more towards self-commercialisation of its own product portfolio," White said.