Vectura Group has triggered milestone receipt of $5 million from Novartis by reaching $512 million combined net sales of Seebri, Breezhaler and Ultibro Breezhaler for the year to 31 December 2016.
The milestone will be recorded in the Group’s revenues for 2016.
James Ward-Lilley, Vectura’s CEO said that collaboration with Novartis makes up over 75% of Group revenues.
“From their respective launches within only the last five years, Seebri and Ultibro are now established and substantial global products having achieved over $0.5 billion in combined net sales in 2016. Ultibro in particular continues to grow strongly, fuelled by the positive results of the FLAME study and with further potential both from the recent change to the GOLD guidelines and the planned 2017 US launch by Sunovion. We also look forward to further progress of the Novartis asthma triple programme QVM149, which is currently in Phase III with first planned submissions in 2019.” added Ward-Lilley.