Consort Medical Stock Blasted After Nicovation Served Termination Notices for Voke Inhaler Deals
LONDON--Shares in Consort Medical PLC fell Tuesday after the drug-delivery-device maker said a unit of British American Tobacco PLC BTI, +0.52% is terminating supply deals for the Voke nicotine inhaler as the product failed to commercially launch in 2016.
Consort said Nicovations Ltd. had served termination notices for all supply agreements with Bespak Europe Ltd., a Consort Medical unit, for Voke, effective immediately.
The companies, however, remain in talks about the future of the Voke program, Consort said.
Consort said Nicovations Ltd. had served termination notices for all supply agreements with Bespak Europe Ltd., a Consort Medical unit, for Voke, effective immediately.
The companies, however, remain in talks about the future of the Voke program, Consort said.