Positively transforming the lives of airways disease patients
Targeting sustained profitability and shareholder value growth
INDUSTRY-LEADING DEVICES AND FORMULATIONS
MAXIMISING PARTNERSHIP VALUE
MAXIMISING VALUE OF OWN PIPELINE
A stimulating and rewarding place to work
Accelerating strategy implementation and value creation through M&A and business development

Priorities

  • Technologies underpin our product-to-pipeline focus;
  • Creation and protection of our underlying intellectual property (IP) assets;
  • Continue to leverage investment in our technology and device platforms, IP and general know-how;
  • Continue to provide low-risk revenue generation within a structure that allows for the generation of future royalty streams;
  • Maintain our technology leadership within inhaled medicine through appropriate investment in people and processes and robust defence of IP.

Future outlook

  • Develop more innovative products that address the needs of patients, physicians and payors;
  • Returns will arise from collaborations with other parties, where we earn milestone payments and royalties from product development and commercialisation;
  • Collaboration agreements with new and existing partners through our DPI and smart inhalation technologies.

Priorities

  • Continue with existing partnering model to access those markets, such as COPD and asthma, that require large general sales forces;
  • Endeavour to maximise the economic return to shareholders, which will involve sharing an increased level of risk in certain indications;
  • Seek increased economics in the co-development portion of our business model, which also has the important effect of increasing the knowledge base of our employees.

Future outlook

  • Consider co-promotion or self-commercialisation of certain assets to harness economic returns; 
  • Commercialisation options will be restricted to therapeutic indications which can be addressed by a small, cost-effective and focused sales and marketing infrastructure;
  • Continue to evaluate the commercial landscape to identify assets and companies that have appropriate infrastructure, as well as meet key financial criteria such as being revenue enhancing and accretive on a cash‑earnings basis.

Priorities

  • Build a profitable cash-generative business through a specialist therapeutic focus and progress our development portfolio within airways diseases;
  • Broaden and deepen our development pipeline covering a wide range of indications within the category of airways‑related diseases.

Future outlook

  • We have set out our intended development pathway for VR475 in Europe and clinical trial activities have started. Our anticipated filing date for VR475 remains 2018;
  • We intend to continue to develop our pipeline within tight parameters to maintain our record of capital discipline;
  • It is our intention to continue to prioritise our development pipeline and to drive R&D investment to its earliest value inflection point.