Published:07/07/2020

Vectura today confirms the announcement made by Novartis that the European Commission has approved Enerzair® Breezhaler® (QVM149; indacaterol acetate, glycopyrronium bromide and mometasone furoate). Enerzair® Breezhaler®, which utilises Vectura's formulation IP, is a first-in-class LABA/LAMA/ICS fixed-dose combination maintenance treatment for patients whose asthma is uncontrolled with LABA/ICS[1].

European regulatory approval has triggered a $5.0m milestone to Vectura from Novartis. On 29th June, Novartis also announced that Enerzair® Breezhaler® was approved for use in Japan. This approval triggered a further $1.25m milestone payment to Vectura and the Group will receive a low-single digit royalty on net sales of the product in both territories.

Will Downie, Chief Executive Officer of Vectura, said:

'This is an important regulatory approval for asthma patients in Europe and Japan. Novartis has developed a product with the potential to provide a significant and compelling additional treatment option for patients with uncontrolled asthma. Vectura's revenue stream will benefit from $6.25 million in milestone payments in 2020, plus a low-single digit royalty on future net sales of the product.'

Read the full RNS update here.

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Vectura Group plc published this content on 07 July 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 07 July 2020 10:03:04 UTC