Vectura Share Discussion Threads

[volvo] 17/12/2020 09:57

Interesting trades 1pc of the company just changed hands.....sumats brewing imo.

[18bt] 17/12/2020 09:14

Do they not do WFH in the US?

[fhmktg] 17/12/2020 09:00

Major snow storms in Pennsylvania and New York....Lawyers stuck at home.Will they be able to communicate with VEC?Methinks 'tis all a dastardly plot!Lol....

[slim9] 16/12/2020 20:51

Cracker Jack Day as they say !

[jimboyce] 16/12/2020 20:33

30 days appeal deadline runs out on Friday 18th Dec 2020.

[volvo] 16/12/2020 20:28

News here soon

[best1467] 16/12/2020 18:36

For me the only reason GSK will not takeout Vectura is as Polaris mentioned have Hikima got anything in place to protect the Elipta range in any takeover scenario,I think it’s unlikely but we don’t know

[heffermj] 16/12/2020 16:37

Thanks Volvo - the date mentioned in the article (3rd Dec 2020)confused me I assumed that was when they (GSK) appealed..

[volvo] 16/12/2020 16:24

heffermg I believe it is the past tense whilst story telling how we arrived at the courts decision.




Vectura owns a patent directed to the production of composite active particles for use in pulmonary administration, such as in dry-powder inhalers. Vectura filed a lawsuit against GlaxoSmithKline (GSK) alleging infringement of the patent by GSK’s Ellipta-brand inhalers. At trial, a jury found the patent valid and infringed, and awarded $90 million in damages. After GSK’s motion for judgment as a matter of law (JMOL) on infringement was denied, GSK appealed.

[volvo] 16/12/2020 16:21

polaris thanks.

Without doubt GSK will have definatly run the rule over VEC following its court loss, pluses and minus's.

Lets see how it pans out.

[polaris] 16/12/2020 16:20

That was last year surely? The court of appeals threw that out in November 2020. I can find no information through searches that GSK have taken the appeal further. They are running out of courts...see some interpretation of what this means for others at:



The original appeals court verdict link it somewhere back around 19th November on this board.

(edit: it's here: )

[heffermj] 16/12/2020 15:59

I am a holder but very infrequent poster. If my understanding of this is correct GSK HAVE appealed. Can anyone with more knowledge of the situation enlighten me??
Vectura filed a lawsuit against GlaxoSmithKline (GSK) alleging infringement of the patent by GSK's Ellipta-brand inhalers. At trial, a jury found the patent valid and infringed, and awarded $90 million in damages. After GSK's motion for judgment as a matter of law (JMOL) on infringement was denied, GSK appealed.3 Dec 2020

[polaris] 16/12/2020 15:48

Mylan had an Advair generic approved in the US in January 2019. The price impact of that on the market has already played out - it was drastic, as Mylan priced around 1/3 of original GSK price.

GSK have retained a reasonable fraction of Advair sales, £112 M US sales in Q3 2020 and £361 M for ytd, though well down on pre-generic launch sales.

Sandoz discontinued its own generic after a second rejection from FDA in January 2020.

Hikma/VEC will be the third entrant, assuming the minor response letter is addressed...we will know very soon now.

Mylan also launched its generic in Canada in early 2020. Advair sales in Canada in 2019 came in about $114 M. Another market to watch for impact.

There is an opportunity for Hikma/VEC but it is not going to have a huge impact on GSK. That has already happened with first generic.

[polaris] 16/12/2020 15:29

If GSK do not appeal then the already completed periods will be due for payment. Those come from GSKs own audited figures and will need to have the interest added. That process will be overseen by the court that laid down the original judgment.

The royalties for the future periods, including this current Q, will be payable to VEC in the following Q after sales realised, as per the original agreement. There is nothing to negotiate, apart from the payment schedule. Royalties are based on audited sales and if paid on time will accrue no further interest. If paid later than original agreement then there will be interest added Qly at T-bill rate (from memory).

[polaris] 16/12/2020 15:12

I assumed 33 % increase in sales as per the current YoY. VEC themselves stated $200 M pre-tax when the judgment came out. There is no reason to inflate what is already a large sum.

[volvo] 16/12/2020 14:04

polaris its the ongoing royalties which is the unknown until mid 2021, obviously thoses sales figures are not made yet and can only be estimated.

Imagine the two sides get together and come up with a number, mafia style.

Either way I'm sure GSK would just like VEC to go away and take Advair/Ellipta of the table too.

[polaris] 16/12/2020 13:54

See post 10529 Volvo. It'll be close to $200 M pre-tax using actual sales and growth rates.

[popper joe] 16/12/2020 13:25

Did something happen at 12:30pm ???

[popper joe] 16/12/2020 13:24

Nothing too exciting, but good to see they are increasing their CDMO capacity in line with the new strategy.

[volvo] 16/12/2020 12:24

Because either we have asustained seller or someone is putting a ceiling on the price before putting maybe a offer together. All imo, but seen it before.

Its been this way for the last few weeks.

Things are coming a head with GSK, they either pay up and indications on current and future sales suggest a payment could get nearer $250m, thats a nice down payment.