10 Jun 2021 07:30
Vectura announces completion of management buy-out of Lyon oral subsidiary, Skyepharma Production SAS
Chippenham, UK - 10 June 2021: Vectura Group plc (LSE: VEC), an industry-leading specialist inhalation CDMO, today announces the successful completion of 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 CDMO and work with more customers and partners in this space.
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.
Skyepharma's service offering of oral and tablet technologies was no longer deemed core to Vectura's strategic direction. A decision was taken to support the management buy-out, led by Skyepharma Managing Director David Lescuyer with a full management team in place and support from Bpifrance private equity.
Skyepharma was established in 1996 and was acquired by Vectura in 2016. Skyepharma specialises in the development, production and packaging of pharmaceutical oral products, such as controlled release tablets, supported by proprietary oral drug delivery technologies.
Will Downie CEO 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".
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For more information, please contact:
Vectura Group plc
David Ginivan - VP Corporate Communications +44 (0)7471 352 720
Olivia Manser - Director, Investor Relations +44 (0)7947 758 259
Consilium Strategic Communications +44 (0)20 3709 5700
Mary-Jane Elliott / Melissa Gardiner / David Daley
About Vectura
Vectura is a leading specialist inhalation CDMO that provides innovative inhaled drug delivery solutions that enable customers 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 thirteen 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 and the successful execution of the Group's strategy to win new customer contracts for development services. Various risks may cause Vectura's actual results to differ materially from those expressed or implied by the forward looking statements, including: failure to develop a strong pipeline of new CDMO opportunities and to successfully convert these opportunities into new revenues with an acceptable margin profile; the requirement for substantial funding to conduct research and development to maintain a competitive service offering; 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; 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.