Vectura Group plc Bags Major U.S. Partner, GlaxoSmithKline (GSK) for Copy of Lung Drug in Deal Worth Up to $45 Million
8/3/2011 7:27:56 AM
Inhaled-drug specialist Vectura Group has struck a new U.S. partnership deal for its generic lung drug VR315, which is widely thought by analysts to be a copy of GlaxoSmithKline's top-selling Advair. The collaboration, development and licence agreement has been signed with a U.S. division of an undisclosed leading international pharmaceutical company, Vectura said on Wednesday. VR315 is a key product for the British group and a decision in March by Sandoz, the generic division of Novartis , to hand back U.S. rights to the drug was a serious setback. Sandoz is continuing to develop the medicine for the European market.
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