GSK’s Q2 results yesterday revealed a combined sales trajectory for its three new respiratory products (on which Vectura is eligible for royalties) Breo®/Relvar®, Anoro® and Incruse® in line with our expectations. However, Vectura also announced yesterday afternoon that GSK had decided not to exercise the option to take a license to any additional patents under the agreement. This relates to a proportion of GSK royalties (up to £13m pa for FY2017-2021e), which we have removed from our estimates. ....
28 Jul 2016
N+1 Singer - Vectura Group - GSK decision triggers downgrade, but remains a Buy
Sign up to access
Get access to our full offering from over 30 providers
Get access to our full offering from over 30 providers
N+1 Singer - Vectura Group - GSK decision triggers downgrade, but remains a Buy
- Published:
28 Jul 2016 -
Author:
Dr Jens Lindqvist -
Pages:
3
GSK’s Q2 results yesterday revealed a combined sales trajectory for its three new respiratory products (on which Vectura is eligible for royalties) Breo®/Relvar®, Anoro® and Incruse® in line with our expectations. However, Vectura also announced yesterday afternoon that GSK had decided not to exercise the option to take a license to any additional patents under the agreement. This relates to a proportion of GSK royalties (up to £13m pa for FY2017-2021e), which we have removed from our estimates. ....