Our vision is clear

To be the leading airways disease formulation and device development experts reflected in strong novel and generic partnerships and own specialist commercialisation in niche diseases

Our strategic priorities are well defined

INNOVATION

Priorities

  • Continued investment in novel formulation and device technology
SUSTAINED ORGANIC GROWTH

Priorities

  • Leverage of strong in-market asset growth
  • Delivery of existing broad pipeline
  • Progressive specialist capability build linked to portfolio evolution
OPERATIONAL LEVERAGE

Priorities

  • Drive operational efficiency and effectiveness including merger benefits
ACCELERATION

Priorities

  • Leverage existing strong partnership base and execute new partnership deals
  • Increase value share through future self-commercialisation of wholly owned specialist targeted assets
  • Highly selective approach to M&A with US priority and focus on in-market revenue delivering assets

Our business model leverages core formulation, device and development capabilities and balances risk and returns

NOVEL PATENTED MOLECULE AND DEVICE PARTNERING
Current sustainable cash flows
  • Milestones and low single‑digit royalties
  • High-value opportunities
  • Limited management control
  • Higher molecule and lower financial risk
GENERIC/ANALOGUE MOLECULE AND DEVICE PARTNERING
Current sustainable cash flows
  • Milestones and mid-teen royalties
  • High-volume opportunities
  • Limited management control
  • Lower molecule and financial risk
WHOLLY-OWNED SPECIALIST ASSETS
Additional future opportunity
  • Direct sales revenues
  • High-value specialist market
  • High management control
  • Focus on known molecules to manage risk exposure
back to top