Today we announce an unaudited 2020 pre-close trading update. The Group expects revenue and Adjusted EBITDA for 2020 to be ahead of Board expectations, reflecting Q4 2020 approval of VR315 (US), generic Advair®, partnered with Hikma.
Will Downie, Chief Executive Officer of Vectura, commented: “I am pleased to report that the business has performed well during 2020, trading ahead of Board expectations following FDA approval in December 2020 of our generic Advair® programme, partnered with Hikma. The business has also proven resilient in the face of wider challenges posed by the Coronavirus outbreak.
“We have continued to execute on our inhalation CDMO strategy, signing 18 deals during 2020, with revenue from this new business being recognised in the second half of the year.
“This is an exciting time for the Group and we look forward to continued positive momentum in 2021.”
Please click here for the full RNS update.