June 28, 2017 / 4:23 PM / a year ago

BRIEF-Vectura inks new U.S. deals for generic asthma therapy​

June 28 (Reuters) - Vectura Group Plc:

* ‍New development and licence agreement for a U.S. inhaled generic​

* Signed exclusive development and licence agreement with Sandoz for development of a generic of an existing major inhaled combination therapy for asthma and COPD in U.S.​

* ‍responsible for development of formulation and manufacture of clinical batches for use in pilot clinical studies​

* ‍sandoz is responsible for clinical development, manufacture and commercialisation of vr2081​

* Will receive an initial payment of $5 million from Sandoz

* Eligible to receive up to further $5 million upon achievement of pre- determined development milestones​

* ‍Also eligible to receive a double digit percentage royalty on net sales in line with our other generic development programmes​

* Total research and development cost borne by vectura is expected to be below $20 million up to regulatory filing and subsequent launch, which is seen in early to mid-2020’s​

* ‍Expected that $5 million initial milestone will be recognised in revenues across 2017 and 2018​

* ‍Overall research and development guidance range of £65 million - £75 million for each of 2017 and 2018 remains unchanged​ Source text for Eikon: Further company coverage: (Bengaluru Newsroom: +91 806 749 1136)

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