(Alliance News) - Vectura Group PLC said Thursday it had completed a management buy-out of its oral manufacturing subsidiary in Lyon, Skyepharma Production SAS.
"In 2019, Vectura Group made the strategic decision to become a fully focussed inhalation contract development & manufacturing organisation and work with more customers and partners in this space," the company explained.
It continued: "After carrying out a strategic review of core activities and site footprint, the group decided to rationalise its overall site network and prioritise the development of capabilities in the inhalation space."
Vectura noted Bpifrance private equity supported the management buy-out, which was led by Skyepharma Managing Director David Lescuyer.
Chief Executive Will Downie said: "I would like to wish David and his team in Lyon all the very best for the future. I look forward to seeing their company grow and expand its range of services as an oral technologies CDMO."
Shares in Vectura were 0.1% higher in London on Thursday at 138.20 pence each.
By Paul McGowan; paulmcgowan@alliancenews.com
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