Vectura Share Discussion Threads

[dontay] 21/3/2018 12:47

Getting supported again at this level... I'm not that surprised, the results were broadly in-line and pretty much as expected. I wouldn't even be surprised to see this end the day in the blue. Much will depend on when the large overhang is cleared. L&G's massive buy will have helped with that on the buying side. They ain't no mugs! As with Hikma's results last week... tomorrow will be the acid test and pointer as to where the share price is going in the short term. Still a great investment on the fundamentals at this level!

[pooroldboy55] 21/3/2018 12:24

any news on today's presentation ??? (must be going down well with city)

[a1ord53] 21/3/2018 12:12

After fenomenal merger deal management should fired.
I am afraid that this merger deal with SKY was a child of major shareholders , who wanted consolidate their stakes in both companies- its why imo CEO not fired yet .

[jimboyce] 21/3/2018 11:54

Market cap now £495m. Will this reach £441m i.e. The price paid for Skye. Has to go down to 65p for that !

[polaris] 21/3/2018 11:53

Just catching up on the results statement

Re:GSK litigation
"In July 2016, Vectura announced that it had initiated legal proceedings against GSK in the US following GSK's decision not to extend the term of its legacy agreement with Vectura beyond 31 July 2016, by licensing additional patent families.

A jury trial originally scheduled for December 2018 has recently been rescheduled by the court and is now likely to occur in Q2 2019. Following initiation of the US action, GSK commenced an action in the UK challenging the equivalent UK patents and Vectura has counter sued for infringement. The outcome of this action is currently expected in Q4 2018. A cumulative total of GBP1.9 million of expenses have been incurred in respect of this litigation, recorded as an exceptional item to the end of 2017."

The outcome of this will be pivotal in the IP world. The UK outcome will give guidance on what to expect in the US. The fact it has been delayed is probably on the 'influence' of the Tier I pharma. They can wait but it hurts the smaller pharma a lot more in terms of costs. In these cases i believe the onus should be on continued payments by the tier I pharma, which are placed in escrow with all costs incurred to the plaintant (here VEC) paid by the tier I pharma until resolution. It is an uneven playing surface that favours the heavyweights pushing around small pharma to settle out of court for non-ideal solutions!

[alexchry] 21/3/2018 11:39

pob-looks that way, seems to be nobody interested in buying. Volume is relatively low but not sure whether that's any consolation. Broker/analyst recommendations are lukewarm to say the least as you need to assume one rating worse than their recommendation.

[pooroldboy55] 21/3/2018 11:15

time will tell. but sure we are heading for the 60s.

[justiceforthemany] 21/3/2018 11:14

21 Mar 18 Peel Hunt Hold 76.25 80.65 120.00 120.00

[boadicea] 21/3/2018 10:55

Given the healthy cash flow there shouldn't be any worries at this give-away price.
The company has given an indication that expensive go-it-alone long gestation developments are not intended and even without favourable US and GKN outcomes the present valuation looks way out of line imho. If it is all due to malign manipulation the recovery could be unannounced and sharp.

[pooroldboy55] 21/3/2018 10:44

think they could be wrong.

[richtea2517] 21/3/2018 10:33

L and G reckon it's going up.

[0815exitstrategy] 21/3/2018 10:29

at this share price level it will be a "buy 1 get 1 free" bargain..... ;-)

[best1467] 21/3/2018 10:17

This company as never risen on results day since the sky deal which is when I became a holder,That is an amazing stat they you could do without.
But as always the chairman ceo statement is always positive I’m hoping he gets some difficult questions thrown at him today he surely should be under pressure and the fact that he as not once mentioned share price performance is an absolute disgrace .

[jimboyce] 21/3/2018 10:05

Well it will be very interesting to see whether the directors buy at these levels, now that they are out of the close period.They do need to give us some incentive to keep holding on.

[blueflex2] 21/3/2018 09:59

It will be a takeover target sooner.

[pooroldboy55] 21/3/2018 09:55

Can't see why L&G bought more.

[jimboyce] 21/3/2018 09:53

Skye bought for £441m. Market cap today £528m. This is a disgrace.

[pooroldboy55] 21/3/2018 08:58

Well the city don't think much of the figures.

[alexchry] 21/3/2018 08:53

pob-you could be right. Multiply EBITDA by 15, apparently a reasonable number for a drug company, to get the company value and it comes in under 60p. However, I'm not sure whether this is a reasonable way of valuing Vec. I hope there will be a positive reaction to the results presentation but I suspect the reaction might be jam tomorrow, yet again. When I first read the results, I felt quite positive, the market reaction makes me think that I must have had my rose-tinted glasses on.

[justiceforthemany] 21/3/2018 08:52

21 Mar 18 Shore Capital Hold 80.73 80.65

[justiceforthemany] 21/3/2018 08:34

Any mention of a maiden dividend? If not, why?
With cash of £104M no excuse.

[pooroldboy55] 21/3/2018 08:19

I won't but still think will fall back to low 70s high 60. But have been wrong many times just can't see anything to push this up anytime soon.