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Vectura Group gains from Skyepharma merger as it raises expectations

Wed, 07th Sep 2016 08:09

(ShareCast News) - Inhaled airways disease focused business Vectura Group raised expectations for 2016 as it said it is making progress with the June Skyepharma merger.The company raised revenue expectations for the nine month period ended 31 December, due to strong growth from its partnered marketed respiratory products.The FTSE 250-listed company said the executive team for the company after the merger has been chosen with representation from both Vectura and Skyepharma. A new organisation structure for the enlarged company has also been chosen with a formal staff consultation process is underway.The majority of the new organisation is expected to be implemented in the next few months and delivery of the £2m of annual non-headcount cost synergies, which would result in £10m of cost savings per year from 2018.Combined recurring royalty and revenues from marketed inhaled products including Flutiform, Breezhaler, Ultibro, and Ellipta are ahead of previous expectations for 2016.In July, the company's Novartis AG business reported total net sales for Ultibro and Breezhaler of $100m in the second quarter, a 52% rise compared to the same period in 2015.GlaxoSmithKline (GSK) reported in July second quarter sales of the Ellipta products of £220m, up from £68m in 2015, but decided not to extend the term of its licence agreement beyond 31 July.The company said the decision by GSK would not materially affect its revenue for the period to 31 December, but it could be affected by up to £13m per year from 2017 and it has initiated legal proceedings in the US against GSK.Total revenues from oral and non-inhaled products are ahead of previous expectations with Solaraze in the US benefiting from temporary exceptional market factors.Following the completion of the merger, a review of the combined development pipeline as well as an assessment of an initial wave of new programme opportunities has been completed.The company plans to stop spending on the SKP-2075 after the completion of the formal consultation process which is underway due to the merger. The funds that would have been spent on this development would provide funding for other programmes with research and development investment expected to remain unchanged for 2016 and 2017.Chief executive James Ward-Lilley, said: "The new Vectura is in a strong position to create significant sustained shareholder value following the completion of the merger with Skyepharma in June."We continue to see strong growth from our partnered marketed respiratory products and the outlook for 2016 revenue is ahead of previous expectations. At the same time, integration of the two businesses is progressing well and the completion of the review of the existing development pipeline and assessment of new programme opportunities positions us to accelerate our strategy execution."

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25 Jan 2017 07:48

Vectura sales trigger $5m milestone receipt

(ShareCast News) - Vectura said on Wednesday that a sales milestone receipt of $5m has been triggered following confirmation by Novartis that EU/Rest of World combined net sales of its Seebri Breezhaler and Ultibro Breezhaler for the year to the end of December have reached $512m. The milestone will

24 Jan 2017 08:21

Vectura gets FDA investigational approval for VR647

(ShareCast News) - Device and formulation business for inhaled airways disease, Vectura Group, announced on Tuesday it has received an 'Investigational New Drug' approval from the US Food and Drug Administration for its VR647 product. The FTSE 250 firm said the approval will allow it to conduct a Ph

24 Jan 2017 07:47

Vectura Gets US Approval For Phase I Trial Of Asthma Treatment

11 Jan 2017 08:25

Vectura makes 'significant progess' in third quarter

(ShareCast News) - Inhaled airways disease device and formulation business Vectura Group announced an unaudited pre-close update on Wednesday, ahead of its results for the nine months to 31 December, due in March. The FTSE 250 company said that following the step-change in financial performance anno

11 Jan 2017 07:58

Respiratory Medicine-Maker Vectura Breathing Easy Over Revenue Targets

23 Dec 2016 10:03

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23 Dec 2016 07:57

Vectura Group signs development agreement with Mundipharma

(ShareCast News) - Inhaled airways disease device and formulation business Vectura Group announced on Friday that it has signed a development and licence agreement with Mundipharma International Corporation and a US independent associated company as the global development and commercialisation partn

22 Dec 2016 14:57

Vectura says Bayer completes EU approval procedure for alternative nebulised delivery

(ShareCast News) - Vectura said on Thursday that its partner Bayer has confirmed completion of the EU regulatory procedure that allows an alternative nebulised delivery for its currently-marketed product Ventavis using the London-listed company's smart nebuliser Fox device. Ventavis has been develop

21 Dec 2016 14:15

Vectura says Novartis signs US licensing agreement for COPD treatments

(ShareCast News) - Vectura announced that Swiss pharmaceutical company Novartis has signed a licensing agreement with Sunovion Pharmaceuticals for the US commercialisation rights to three treatments for chronic obstructive pulmonary disease for which it receives royalty revenues. Novartis, whose pro

8 Dec 2016 07:57

Vectura confirms positive study results for Ultibro Breezhaler

(ShareCast News) - Inhaled airways disease-focused business Vectura Group confirmed an announcement by its partner Novartis on Thursday. The FTSE 250 firm said the announcement was of positive results from the first large-scale study exploring the effects of directly switching symptomatic, non-frequ

23 Nov 2016 07:40

Vectura earnings surge as Skyepharma merger creates step-change

(ShareCast News) - Inhaler maker Vectura's interim revenue have soared following the merger with rival Skyepharma and a launch of new products. For the six months ended 30 September, revenue increased 183% to £73.9m, compared to the same period last year, primarily due to the completion of the £441m

22 Nov 2016 07:41

TOP NEWS: Hikma Signs Development And Licensing Deal With Vectura

20 Nov 2016 15:57

Sunday newspaper round-up: OBR, Saudi Aramco, Tesco, BAT, bonds vigilantes

(ShareCast News) - The Office for Budget Responsibility is likely to cut its forecast for UK growth next year by the biggest margin since the peak of the eurozone debt crisis. Philip Hammond's Autumn Statement this week will see the Chancellor set out his multi-billion pound infrastructure plans and

17 Nov 2016 17:10

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26 Oct 2016 14:14

Vectura climbs on positive read-across from Novartis, Singer upgrade

(ShareCast News) - Shares in medical device group Vectura were given a boost by expectations of foreign currency gains and investors reading across results from Novartis, with which the London-listed company is partnered on a handful of products. A third-quarter update from Novartis on Tuesday in

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