Two days after announcing that it had licensed VR315 in the US to an undisclosed pharmaceutical company, Vectura announced that Sandoz has licensed the product in the rest of the world. Sandoz already has an existing agreement with Vectura to market the DPI product in Europe. VR315, delivered by the Gyrohaler dry powder inhaler, is a fixed dose combination product for the treatment of asthma and COPD.
The new agreement covers South America, Canada, Australia, and Japan among other countries, and Sandoz will pay Vectura a royalty on net sales. Vectura will also receive €2.5 million by the end of September 2011, part of a potential total of €8 million in milestones and pre-launch royalties.
Dr Chris Blackwell, Chief Executive of Vectura, commented: “VR315 has a large market opportunity in these rapidly expanding territories, where patient access to good, affordable treatments for asthma and COPD is of great importance. This agreement extends our existing relationships with Sandoz and further endorses Vectura’s respiratory expertise and GyroHaler technology.”
Read the Vectura press release.
