Vectura earns $11m milestone as Hikma receives US FDA approval for generic Advair Diskus®

Vectura Group plc (LSE: VEC) (“Vectura”), an industry-leading specialist inhalation CDMO, today announces that its partner Hikma Pharmaceuticals has launched its generic version of GlaxoSmithKline’s Advair Diskus®1 (fluticasone propionate and salmeterol inhalation powder), 100mcg/50mcg and 250mcg/50mcg doses, in the US. The launch of the product follows approval by the US Food and Drug Administration (FDA).

As a result of this approval, Vectura will receive a milestone payment of $11m which will be recognised in 2020, and will earn a mid-teen royalty on net sales of the product.

This marks the first US FDA approval of a Vectura dry powder inhaler and joins the growing Vectura franchise of approved inhalation devices in Europe and Rest of World such as GyroHaler® and FOX®.

For more on today’s announcement, click here.