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Vectura : Bayer Launches New Nebuliser in Poland; Triggers Milestone Payment

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04/05/2017 | 03:06pm CEST

LONDON--Vectura Group PLC (>> Vectura Group PLC), an inhaled airways products device firm, said Thursday its partner Bayer AG (>> Bayer AG) has launched Breelib, a new nebuliser for Ventavis (iloprost), in Poland, triggering a 5 million euro ($5.33 million) milestone for the group.

Vectura added that it is eligible to receive annual milestones on the anniversary of this first launch on a decreasing scale, over six years, to the total value of EUR5.75 million.

The application of Ventavis with the Breelib nebuliser was approved by the European Medicines Agency in October 2016. Following the EC Declaration of Conformity, marketability of the medical device was granted by the E.U. Notified Body in December 2016.

Shares at 1245 GMT down 0.9 pence, or 0.6%, at 153.10 pence.

-Write to Ian Walker at [email protected]; @IanWalk40289749

Stocks mentioned in the article : Vectura Group PLC, Bayer AG
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Financials (€)
Sales 2017 49 465 M
EBIT 2017 9 946 M
Net income 2017 5 448 M
Debt 2017 10 494 M
Yield 2017 2,71%
P/E ratio 2017 16,52
P/E ratio 2018 15,34
EV / Sales 2017 1,97x
EV / Sales 2018 1,85x
Capitalization 86 995 M
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Mean consensus OUTPERFORM
Number of Analysts 26
Average target price 111 €
Spread / Average Target 5,4%
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Werner Baumann Chairman-Management Board
Werner Wenning Chairman-Supervisory Board
Johannes M. Dietsch Chief Financial Officer
Katharina Jansen Head-Science & Research
Hartmut Klusik Human Resources, Technology & Sustainability
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