September 11, 2018 / 7:02 AM / a year ago

UPDATE 1-Vectura reviewing drug stockpiles as no-deal Brexit looms

(Adds background, details on results)

Sept 11 (Reuters) - British drugmaker Vectura Group Plc is reviewing its stockpiles of drugs and key components as part of its mitigation plan for a “no-deal” Brexit and warned on Tuesday of a potential disruption to supply chains and higher costs.

The British government had last month called on drugmakers to build an additional six weeks of medicines stockpiles to cope with potential supply disruption in the event of a no-deal Brexit.

Vectura’s warning follows that of rival Dechra Pharmaceuticals, which said earlier this month it was moving ahead with plans for a hard Brexit, with an emphasis on addressing risks to its supply chain.

Vectura also reported a modest rise in half-year revenue, helped by higher sales of its inhaled products and affirmed its forecast for the year.

Revenue was 79.9 million pounds ($104.3 million) for the six months ended June 30, compared with 78.8 million pounds a year earlier, it said. ($1 = 0.7658 pounds) (Reporting by Shashwat Awasthi in Bengaluru; Editing by Amrutha Gayathri)

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