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Vectura Group plc (VEC.L) Interim Management Statement


2/13/2013 12:39:54 PM

Chippenham, UK – 13 February 2013: Vectura Group plc (LSE: VEC) (“Vectura”), today publishes its Interim Management Statement for the period 01 October 2012 to 13 February 2013.

Pipeline update

NVA237/Seebri® Breezhaler® (COPD)

• Following European and Japanese approvals on 28 September 2012, Seebri® Breezhaler® has been launched in, UK, Germany and Denmark, and Seebri® Inhalation Capsules in Japan

• US filing expected in 2014

QVA149 (COPD) filed in Europe and Japan

• QVA149 filed for marketing authorisation with the European Medicines Agency in October 2012, triggering a $5m (£3.1m) milestone

• QVA149 filed with the Japanese Ministry of Health, Labour and Welfare in November 2012

• US filing expected late 2014

VR315 (asthma/COPD), VR632 (asthma/COPD) and VR506 (asthma)

• Solid development progress on all products

Financial update

On 20 November 2012, Vectura announced its interim results for the six months to 30 September 2012, reporting a profit after tax of £0.9m and cash of £72.1m.

Vectura’s financial performance from 1 October 2012 to date has been in line with the Board’s expectations.

Dr Chris Blackwell, Chief Executive of Vectura commented:

“The launch of Seebri® Breezhaler® in Europe, and Seebri® Inhalation Capsules in Japan, and regulatory filings of QVA149 by our partner Novartis during the period, are important milestones for Vectura. Looking ahead, we will soon enjoy royalty income from sales of Seebri® Breezhaler®, as well as additional near-term development milestones from this and other products in our pipeline that will further add to our robust financial position.”

“The Company’s strategy will continue to focus on value creation, evaluating suitable opportunities in established and emerging markets whilst carefully prioritising development and exercising tight control over expenses to manage our cash resources prudently. The Board remains confident in the Group’s prospects.”

Enquiries

Vectura Group plc +44 (0)1249 667700

Chris Blackwell, Chief Executive

Karl Keegan, Corporate Development Director

FTI Consulting +44 (0)20 7831 3113

John Dineen / Ben Atwell / Simon Conway


Read at BioSpace.com

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