Vectura updates on developmental products and milestones

UK-based Vectura (LSE: VEC) saw its share price rise 4.9% to 75.50 pence yesterday morning, after the company published an Interim Management Statement for the period from April 1 to August 15, 2012, and announced that it has achieved a milestone relating to continued US development progress on its lead asthma/COPD generic program VR315.

The company highlighted progress for its COPD candidate Seebri Breezhaler (formerly NVA237; glycopyrronium), which in June 2012 gained a positive opinion from the European Medicines Agency's Committee for Medicinal Products for Human Use (CMPH). European Marketing Authorization is expected to be granted shortly, and a US filing is scheduled for first-half 2014. Further regulatory submissions in additional territories are expected to be ongoing.

Vectura also noted headline Phase-III data from the first of four trials of QVA149, being conducted by Novartis as part of the IGNITE series of trials, which demonstrated that the candidate met all of its primary endpoints. Phase-III data is scheduled for presentation at the European Respiratory Society (ERS) Annual Congress to be held in Vienna over September 1–5, 2012, where Vectura is hosting an event for analysts/investors.