Vectura's six-month loss up on R&D investment

A L7.9 million ($16.3 million) hike in R&D investment, related to the development of respiratory medications, increased the half-year shortfall at UK-based drug firm Vectura. For the six months ended September 30, 2007, the company posted a net loss of L9.6 million, up from the L1.9 million deficit it recorded in the year-earlier period.

Vectura, however, remained upbeat, citing the 102% rise to L12.3 million in revenue for the period, generated through licensing activities, development fees, royalties and device sales, as a validation of its increased R&D expenditure. Chris Blackwell, the company's chief executive, highlighted the recently-announced 10.0 million euro ($14.8 million) milestone from Boehringer Ingelheim (see page 22), as a specific example.