RNS Number : 3617G
Vectura Group plc
05 August 2016
Vectura Group plc
US$8 million Exparel® sales milestone from Pacira triggered
This announcement includes inside information
Chippenham, UK - 5 August 2016: Vectura Group plc
(LSE: VEC) ("Vectura", "the Group"), an industry-leading inhaled airways disease focused business, announces that a sales
milestone receipt of US$8 million (circa £6.0 million) has been triggered following confirmation by Pacira Pharmaceuticals,
Inc. ("Pacira") that worldwide annual net sales of EXPAREL® (on a cash received basis) to 30 June 2016 were above
US$250 million.
On 4 August 2016 Pacira announced net sales of EXPAREL® of US$65.8 million in Q2 2016,
an increase of 15 percent compared with the first quarter of 2015. The company also confirmed that preparations in support
of the launch of EXPAREL® in oral surgery in September 2016 are on track.
James Ward-Lilley, Vectura's CEO commented:
"We are pleased to see the continued evolution of sales for EXPAREL triggering this milestone
payment to Vectura. The merger with Skyepharma added to the Group's strongly-growing revenue streams of
on-market products. This announcement confirms the additional anticipated milestone revenue for this financial year alongside the
3% share of sales of EXPAREL that the Group receives."
- Ends -
Enquiries
Vectura Group plc
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+44 (0)1249 667700
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Fleur Wood, Director - Investor Relations and Corporate Communications
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Citigate Dewe Rogerson
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+44 (0)20 7638 9571
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David Dible / Mark Swallow
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About Exparel®
Following its merger with Skyepharma PLC which was completed on 10 June 2016, the Group is
entitled to receive three per cent of net sales of EXPAREL® (based on cash received by Pacira)
in the United States, Japan, United Kingdom, France, Germany, Italy and Spain until the expiry of certain patents. The Group is
also eligible to receive a sales milestone of US$32 million when worldwide annual net sales of the product reach US$500 million
(on a cash received basis). In addition, whilst currently the product is only launched in the US, the Group is also entitled
to a milestone of US$4 million if EXPAREL® is launched in a major European
market.
EXPAREL® (bupivacaine liposome injectable suspension) is currently indicated for
single-dose infiltration into the surgical site to produce postsurgical analgesia. The product combines bupivacaine with
DepoFoam®, a proven product delivery technology that delivers medication over a desired time period.
EXPAREL® represents the first and only multivesicular liposome local anaesthetic that can be utilised in the peri- or
postsurgical setting. By utilising the DepoFoam® platform, a single dose of EXPAREL® delivers bupivacaine
over time, providing significant reductions in cumulative pain score with up to a 45 percent decrease in opioid consumption; the
clinical benefit of the opioid reduction was not demonstrated.
About Vectura
Vectura, a FTSE250 company listed on the London Stock Exchange (LSE: VEC), is an industry-leading
inhaled airways disease focused business with proprietary formulation and devices across DPI, pMDI and smart nebulisation
platforms. With our extensive range of technologies, capabilities and collaborations, we believe we can become a leader in the
development of inhalation products, increasing our ability to help patients suffering from respiratory diseases. In June
2016 Vectura completed a merger with Skyepharma PLC.
Vectura has seven inhaled, four non-inhaled and ten oral products marketed by partners with growing global royalty streams, and a portfolio
of drugs in clinical development, a number of which have licence agreements
with several global pharmaceutical and biotechnology companies
including Hikma, Novartis, Sandoz, Mundipharma, Kyorin, Baxter, GSK, UCB, Ablynx, Grifols, Chiesi,
Almirall, Janssen, and Tianjin KingYork.
For further information, please visit Vectura's website at www.vectura.com.
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Forward-looking statements
This press release contains forward-looking statements, including statements about the discovery,
development and commercialisation of products. Various risks may cause Vectura's actual results to differ materially from those
expressed or implied by the forward-looking statements, including: adverse results in clinical development programmes; failure to
obtain patent protection for inventions; commercial limitations imposed by patents owned or controlled by third parties;
dependence upon strategic alliance partners to develop and commercialise products and services; difficulties or delays in
obtaining regulatory approvals to market products and services resulting from development efforts; the requirement for
substantial funding to conduct research and development and to expand commercialisation activities; and product initiatives by
competitors. As a result of these factors, prospective investors are cautioned not to rely on any forward-looking statements. We
disclaim any intention or obligation to update or revise any forward-looking statements, whether as a result of new information,
future events or otherwise.
This information is provided by RNS
The company news service from the London Stock Exchange
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