Vectura's fiscal 2006 revenues increase 67%

Chippenham, UK-based Vectura says that, for the fiscal year ended March 31, 2007, its total revenues rose 67% year-on-year, to L14.1 million ($18.9 million), as gross profit also rose 67% to L10.8 million.

In its first results announcement since it acquired fellow UK-based respiratory medicines rival, Innovata, in an all-share deal valued at about L128.8 million, Vectura narrowed its net loss per share 27% to 4.4 pence, beating analyst expectations.

Major product highlights during the period, included positive results from a Phase II trial of NVA237 reported in June 2006, with partner Novartis indicating expectation to file New Drug Applications submissions for both NVA237 and another chronic obstrcutive pulmonary disorder drug, QVA149, in 2010.