According to an interim management statement released by Vectura, the company anticipates a cut R&D expenditures by £1m for the fiscal year ending March 31 2012 and expects additional cuts for FY2013. The company said, “We continue to pay close attention to R&D expenditure to ensure appropriate investment is placed behind key assets, including device and product manufacturing scale up for VR506 and VR315US.” VR506 is a generic inhaled ICS for the treatment of asthma, and VR315 is a fixed dose combination DPI for the treatment of asthma and COPD.
Vectura CEO Chris Blackwell commented, “We anticipate a number of major catalysts in 2012, including late-stage clinical data from our branded products, the launch of NVA237 in Europe, the EU filing of the combination product, QVA149, as well as progress with our generic programmes. We remain committed to continued cost control, disciplined R&D investment and building Vectura into a sustainably profitable company with strong growth prospects.”
The company expects to launch NVA237 in Europe this year and filed an application in Japan in November 2011; in the US, the FDA has requested additional data, which is expected to delay approval of both NVA237 and QVA 149.
Read the Vectura press release.
