Vectura $6m milestone payment for VR315 from Novartis
Vectura Group, the UK-based inhalation product development company, has received a $6 million milestone payment from Swiss drug major Novartis in relation to progress on the development of its combination asthma chronic obstructive pulmonary disease product, VR315.This is generally believed to be a generic version of UK drug major GlaxoSmithKline's COPD drug Advair (fluticasone).
Combination therapy for asthma and COPD is the biggest and fastest growing sector of the respiratory market, with annual sales currently exceeding $10 billion. VR315 is being developed as a generic product delivered with Vectura's GyroHaler Dry Powder Inhaler (DPI) delivery device. GSK's Advair, generated sales of $6.74 billion in 2008.
The UK firm licensed the US rights for VR315 to Sandoz, the generics division of Novartis, in December 2006 on a profit share basis. Vectura licensed the EU rights to Sandoz
in March 2006.
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