Events in relation to the COVID-19 outbreak continue to evolve rapidly, and the Group is monitoring the situation closely as it develops. At this time, Vectura has not seen any impact to its business.
Vectura’s first priority remains the health and safety of its employees and visitors to its sites. Vigilance on hygiene has been increased across all sites and the Group encourages home working and digital communications where possible. Protocols are in place should the situation deteriorate.
Product supply and development services activities continue to progress normally and no signals of diminished demand for these services have been noted at this time. The outbreak has the potential to cause disruption to business development activities as trade shows are cancelled and travel limits are put in place.
Vectura is monitoring key suppliers regarding potential supply chain interruptions, and, so far, no immediate risks to supply have been identified. Vectura will continue to monitor stock levels and put in place risk mitigation plans where appropriate.
Vectura has a strong balance sheet, an undrawn £50m Revolving Credit Facility and minimal corporate debt and is a resilient business in the face of the risks posed by COVID-19.
This information was first published as part of our 2019 preliminary results announcements on 17 March 2019. For more details about our COVOID-19 resilience, please see our results presentation here.