Vectura Group to Receive $20 Million in Milestone Payments from Novartis
March 05 2015 - 6:55AM
Dow Jones News
LONDON--Pharmaceutical company Vectura Group PLC (VEC.LN) said
Thursday that it will receive milestone payments totaling $20
million from Novartis (NOVN.VX), following the decision by U.S.
Food and Drug Administration to accept two new drug applications
made by Novartis.
The regulatory has accepted Novartis' new drug applications for
QVA149 and NVA237 for the long-term maintenance treatment of
chronic obstructive pulmonary disease. The acceptances have
triggered milestone payments to Vectura of $12.5 million and $7.5
million, respectively.
Shares of Vectura at 1119 GMT trading 1.2%, at 151 pence.
Write to Tapan Panchal at tapan.panchal@wsj.com
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