Share Name Share Symbol Market Type Share ISIN Share Description
Vectura Group Plc LSE:VEC London Ordinary Share GB00BKM2MW97 ORD 0.0271P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -0.70 -0.85% 81.80 81.80 82.10 82.20 81.00 81.00 23,001 13:15:17
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Pharmaceuticals & Biotechnology 160.5 -104.8 -13.2 - 545

Vectura Share Discussion Threads

Showing 9101 to 9124 of 9125 messages
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DateSubjectAuthorDiscuss
23/10/2019
11:43
Me too. Bought B and E when they were about 3p if I remember correctly
cap160
23/10/2019
11:30
@diesel - indeed there are negatives. I think the last 12-18 months have seen most of the old guard move on. If a half decent CEO is appointed then sentiment will turn on the proverbial sixpence. HBM have a business plan and will buy and sell accordingly. Doesn't mean they are right. I do get the feeling that a certain fund manager held a reasonable number of VEC shares and they have also been arriving on the market in a disorderly manner! ;-) The problem with a CDMO type organisation is what to buy? You need to look at IP bolt-ons and i don't see much out there that matches well. Maybe that will also be resolved by new blood at the top. Unimaginative use of cash is better than spraying it in all directions on flights of fancy. ;-) I'll take a slow buyback of shares with spare cash above a certain level, as it increases effective EPS. If something comes along on the acquisition front then the company have the mandate to issue up to 10% of new share capital and can always call a EGM if they need more than that. There are many small pharmas out there that are just cash eating machines with little prospect of ever getting anywhere. VEC can, and should, be selective in how to proceed. It's a shame that SKP didn't succeed with Flutiform on the timescale planned (it would have been huge as first to market in the US) and that had the knock-on effect of requiring the sale of the Depodur assets, which is now Pacira. The 'funny' thing is that PCRX are valued significantly higher than VEC, despite never turning a decent profit...blue sky pie vs stodgy pudding solidity? ;-)
polaris
23/10/2019
11:19
Yes, thanks for that Paul, and just to trump Colsmith :-), I've been in since the company was making tents! Anyone else remember Black and Edgington?
popper joe
23/10/2019
11:13
Paul, agree with most of your summary, but the negative sentiment is also not helped by .. Lack of CEO Sell off by HBM Little in the way of new collaborations. Unimaginative use of cash, no growth or acquisition plans.... We need fresh blood at the top to revitalise the image, as you say the business is sound but the negatives of the past and present weigh heavily.
diesel
23/10/2019
11:11
Hi PAUL Agree with all of that, have also looked at all the future prospects but as you say its all jam tomorrow will the market catch on ? lets hope so but doesn't look like that at the moment who knows 1/2/3 years ? Anyhow all the best (from one who is normally wrong ) Andrew
pooroldboy55
23/10/2019
10:57
Thanks Paul, well articulated and practical review. I've been in since SKP days and always thought the combination would be good - maybe its a question that the companies time has come in that sense.
colsmith
23/10/2019
10:51
There is a negative sentiment surrounding VEC and, added to that, most people do not understand the business model. While i do not disagree with the statement that the merger of SKP and VEC was an unmitigated disaster in terms of shareholder value for people who have held 5+ years, that is in the past and is something we cannot change. Unfortunately for VEC as an ongoing business, the legacy of the shareholder destruction is still in play, in the form of the balance sheet write-offs. These distort the financial reporting and lead to the headline numbers that appear to show that VEC is a loss-making company and has been for a number of years. Once you get beyond the headline numbers then it is clear that VEC are actually profitable from the on going business. This can easily be established by looking at the growth of the cash pile over the last several years. If a company isn't profitable then the cash pile doesn't grow! Then you have the financial websites, this one included, that have outdated information. ADVFN still show that VEC have a large debt position. For the life of me, i cannot see that in the financial reports. VEC is debt free and has a large, growing cash pile. Most of the metrics that a financial website uses will mark VEC as a risky play and certainly not a growth stock. The issue is that the distortions are all accountancy gimmicks. At an operational level VEC are a solid company with significant prospects going forward. They are self-sustaining from existing portfolio of younger products on market and are evolving from a blue sky smaller pharma into a CDMO (contract development and manufacturing organisation). That means that R&D spend will fall and developments will be targeted towards partnered work. That is significantly lower risk, but lower overall potential reward; think Flutiform and Depodur developments years ago from the original SKP for examples of the blue sky approach. IP rights and development of IP are the staple for a company like VEC. Defending that IP is crucial and so the on going battle with GSK is very important. The development of new IP is also crucial going forward. Here, i'm thinking the nebulised therapies and the generics (Ellipta, Symbicort, others to a lesser extent). Formulation IP remains important (see QVM149, Ellipta, generic Advair, Sandoz Symbicort in EU as examples). The US litigation result against GSK shows that IP defence in action. Once fully resolved, it is likely that VEC will be $110M better off, along with ongoing revenues from US sales of the relevant Ellipta series until end 2021. That is not to be underestimated...yet it is almost entirely discounted IMO. The Flutiform manufacturing and supply chain is the engine room of the company, allowing the other developments to take place. This product alone will be worth £100M+ in revenues to VEC in 2019, contributing £35M+ in profit from manufacturing margin (worldwide) and royalties (from Kyorin). Yet there are still posters who think that this revenue stream is in doubt or should be discounted in some way. Why? well surely a generic will appear and so the revenues will fall. Here's an example of that false assumption, Ventolin has been on the market for more than 20 years and still reaps over £500M in annual sales. Why would a relatively niche product in the market be a target for generics? These revenues will not go away and Kyorin has big plans for Flutiform in Japan and, potentially, China. In fact, I can only see revenues growing there. In the EU market, the market penetration is stable, despite assertions otherwise based on single markets. What market value for the manufacturing and supply chain for Flutiform alone? Generic Advair remains a red herring to my mind. That boat sailed long ago. People should be looking towards QVM149, the generic Symbicort in the EU (Sandoz) and the generics developments in the US (Symbicort and Ellipta). Add to that the potential for the nebulised therapies in multiple areas. I expect news on that front in the coming months and some of the products to be fast tracked via orphan drug status. The secondary revenue stream from Ultibro/Utibron/Seebri is not to be sniffed at. That is all pure royalty revenue and is worth over £15M p.a. There are smaller contributions from AirFlusal, Breelib and Gyrohaler. There are older products that have life left in them - the final Exparel milestone ($32M) and Rayos/Lodotra royalties (min $8M p.a. to 2022) are two good examples. VEC seems to be worth significantly less than the sum of its individual parts, for what seem to be legacy reasons. The past is done, finished, irrelevant. I look to the now and the future prospects and am positioned accordingly. The only real question for me is when the market will finally cotton on to what has been staring it in the face for some time now. regards, Paul
polaris
23/10/2019
10:30
SP seems a bit all over the place at the moment. Indicative is showing as 81.6p however when I just tried a dummy sell I got quoted 82.2p and for a dummy buy it was 83.65p. Not sure what to read into that. Any views?
gbcol
23/10/2019
09:56
Once all the legal actions have been settled, I would be surprised if there isn't a move made on VEC at around £2 per share, making a value of £1.2billion. Not unrealistic in a time when generic medicine businesses are very attractive bolt ons.
jimboyce
22/10/2019
18:02
Special Dividend The proposed Special Dividend will involve the Company returning 6 pence per existing ordinary share in the capital of the Company to shareholders on the register of members of the Company as at 6.00 p.m. on 11 October 2019. It is expected that the Special Dividend will become payable to shareholders on 25 October 2019.
cockneytrader
22/10/2019
17:58
I think it's ex div already
cottonpickers
22/10/2019
17:47
Anybody could explain if it will be ex divi day on 25 th of October ? Or there is no cut off for special divis ? Please, kindly explain who knows. Thanks a lot. Record day was on 11 october and now its different quantities of new consolidated shares on 14 october. So there is no way for cut off imo.
a1ord53
21/10/2019
21:54
The guy who called the 90plus price would soon see 80p again didn't have to wait long. Printing money these guys are by controlling the price action.
insideryou
21/10/2019
15:54
In terms of revenue possibilities, Advair generic is a non-event for me. It is going to be worth a few $m in royalties at best, if it makes it to launch. Of more relevance are the developments wrt generic Ellipta and the approval decision on QVM149, which is likely to be market competition for Trelegy. I think this week is the last real opportunity for the short term traders to turn a buck. Next week the DRIP will kick in alongside the buyback. The mandate there is an average of 80k shares per day for the 6-month period, assuming a flat share price Expect share capital to be around 595M by the end of 2020, with cash in hand as high as $210M by that date. Assuming all outstanding cash is finally paid to VEC by GSK then R&D is fully funded for the next 4 years from cash in hand - timescale for commercial approval of the Ellipta generics.
polaris
21/10/2019
15:41
Or leaked advair news
dp1umb
21/10/2019
12:01
Andrew - I would imagine a broker reduce/sell note.. that's very speculative thoVolume seems to have dropped off for now
frazboy
21/10/2019
11:55
Normanly when a share falls like this something wrong ,and its not because im back from holiday Edit Re buy back well at lest they will be able to buy more.
pooroldboy55
21/10/2019
11:49
I've also taken opportunity of share price dip to buy some back this morning (from upcoming divi) but can only get max £1000 online at the moment, presumably meaning there isn't much stock around (any other view on this). Also bought some more last week. Would like to get a few more but more than happy to see the share price start climbing again. I wonder if buyback will commence today (can't remember if there was a set start date) EDIT : Share buyback actually due to commence 30 October 19
gbcol
21/10/2019
10:29
Best of luck Paul but VEC do look headless at the moment .Yes the BOD are doing a great job share price no better than 6 years ago and going down, as i say PAUL best of luck you must be a lot younger than me at this rate i will be pushing up daisies before this comes good. Cheers Andrew Edit To me and i could well be wrong normally am this looks like someone knows something down almost 6p fri/mon and for us decent numbers.
pooroldboy55
21/10/2019
10:14
I've taken another 15k this morning. Effectively, reinvested the dividend.
polaris
21/10/2019
09:54
Looks like the BOD plan to get the price up working well,
pooroldboy55
21/10/2019
09:53
Quite a sharp sell off taking place. Belated reaction to the fact that Vectura is a foreign earner and thus FX related earnings pressure? Or something else?
frazboy
19/10/2019
10:09
Buy back can help stabilise & support our share price ,particularly if we continue rising following positive news (Advair generic ,progress on Ellipta generic,new product developments ,new CEO appointment .confirmation that GSK will settle amount due .Plus second buy back of $10mill to be activated ,if required
base7
18/10/2019
16:07
polaris, the share buyback is only £10M initially and for up to six months so any effect on shareholdings or trading patterns is likely to be slow and small.
alexchry
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