Stock Market News
Vectura to focus on lower risk, higher value opportunities
Medical inhaler group Vectura said 2017 full year revenue should be in line with expectations, adding that a strong second half delivered closing cash and cash equivalents of around £104m net of £1.4m outflows in respect of the £15m share buyback which started in November.
It added that it was now going to focus on "relatively lower risk, high value development opportunities with known molecules" across its whole non-partnered pipeline after delays in the approval of the group's US generic Advair programme alongside positive pipeline developments prompted an investment review.
"Further investment in relatively higher risk, novel molecule, early stage programmes will cease and opportunities to partner existing programmes of this type will be sought. This reduction in the overall pipeline risk profile will enable further leverage of Vectura's core capabilities to deliver additional value from lower risk projects."
Vectura added that were current exchange rates to continue through 2018, sterling reported revenues would be reduced by approximately £5m, equating to an impact of about £2.5m at the gross margin level.
Costs to deliver the company's R&D "Operational Excellence" initiative are estimated at approximately £1m within exceptional items in 2017 and a further £0.5m within exceptional items in 2018.
It added that it was now going to focus on "relatively lower risk, high value development opportunities with known molecules" across its whole non-partnered pipeline after delays in the approval of the group's US generic Advair programme alongside positive pipeline developments prompted an investment review.
"Further investment in relatively higher risk, novel molecule, early stage programmes will cease and opportunities to partner existing programmes of this type will be sought. This reduction in the overall pipeline risk profile will enable further leverage of Vectura's core capabilities to deliver additional value from lower risk projects."
Vectura added that were current exchange rates to continue through 2018, sterling reported revenues would be reduced by approximately £5m, equating to an impact of about £2.5m at the gross margin level.
Costs to deliver the company's R&D "Operational Excellence" initiative are estimated at approximately £1m within exceptional items in 2017 and a further £0.5m within exceptional items in 2018.
Related share prices |
---|
Vectura Group (VEC) share price |
Stock News headlines are gathered from financial news sources around the web. Views and opinions on each item are from their respective authors and website. They are not opinions of LiveCharts.co.uk
Get a free widget for your website with our latest headlines.
You can now add our live prices and new headlines to your website.The news widget features quotes for Oil prices, spot Gold price and Indices plus a choice of news channel for healines.
Top Shares pages
- Share price quotes
- Share charts
- Share watch list
- Company Results Calendar
- Top Large UK Shares
- UK Market Sectors
- Stock market news
- Company news
- Share tips
- A-Z company search
More share features
POPULAR Share Prices
- Royal Mail share price
- Lloyds share price
- HSBC share price
- Barclays share price
- Prudential share price
- Santander share price
- NEXT share price
- Diageo share price
- BP share price
- Vodafone share price
- British Airways
- Centrica share price
- Tesco share price
- Taylor Wimpey Share Price
- National Grid
- GKP Share Price
- Marks and Spencer
- Rolls Royce
- Rio Tinto
- THG Share Price
- Aviva Share Price
- Boil Share price
- Easyjet Share Price
- Genedrive Share Price
- SSE Share Price
- IAG Share Price
- Boohoo share price
- HE1 share price
- AVCT share price
- BOOM share price