Vectura receives a $3.2M milestone
Chippenham, UK-based Vectura has received a 2.5 million-euro ($3.2 million) European milestone payment in relation to progress on the development of its combination asthma/chronic obstructuve pulmonary disorder product VR315, a generic product delivered with Vectura's GyroHaler Dry Powder Inhaler delivery device.
Vectura licensed the European rights for VR315 to Sandoz, the generics division of Swiss drug major Novartis, in March 2006 and the US rights were granted on a cost share/profit share basis in December 2006.
Combination therapy for asthma and COPD is the biggest and fastest-growing sector of the respiratory market, with annual sales currently exceeding $10.0 billion.
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