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Name | Symbol | Market | Type |
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GSK plc | NYSE:GSK | NYSE | Depository Receipt |
Price Change | % Change | Price | High Price | Low Price | Open Price | Traded | Last Trade | |
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0.23 | 0.53% | 43.58 | 43.68 | 43.27 | 43.58 | 4,048,068 | 01:00:00 |
By Adria Calatayud
Vectura Group PLC said Wednesday that it plans to go ahead with its plan to pay a special dividend, as it considers that a U.S. patent-litigation process with GlaxoSmithKline PLC is now fully resolved.
Vectura, a U.K. pharmaceuticals business specializing in inhaled medicines, said Glaxo hasn't petitioned the Supreme Court in relation to a U.S. patent litigation concerning Glaxo's Ellipta products, and that this was the final route of appeal.
To date, Vectura has received 127.6 million pounds ($177.9 million) from Glaxo in respect of the U.S. patent litigation, it said. Vectura said it can execute its growth plans without using these funds, which allow it to pay a special dividend of 19 pence a share, totaling GBP113 million, and to launch a share consolidation.
The share consolidation will replace every six existing shares with five new shares, Vectura said.
The special dividend and share consolidation are subject to shareholder approval. A general meeting is due to be held on May 27, Vectura said.
Shares in Vectura at 0712 GMT were up 3.9% at 116 pence.
Write to Adria Calatayud at adria.calatayud@dowjones.com
(END) Dow Jones Newswires
April 21, 2021 03:37 ET (07:37 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
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