Strong sales of its Exparel pain relief drug have triggered a $8m (£6.1m) payout for specialist pharmaceutical firm Vectura.
Exparel, an injectable single-dose drug used post-surgery, became part of Chippenham-based Vectura’s portfolio following its £440m acquisition in March of Skyepharma.
Exparel was initially developed by London-based Skyepharma but its development was completed by US firm Pacira Pharmaceuticals following its takeover of Skyepharma’s injectable business.
Worldwide annual net sales of the drug to the end of June passed $250m, triggering the milestone payment for Vectura. Sales rose by 15% to $65.8m in the second quarter of this year.
Vectura CEO James Ward-Lilley said: “The merger with Skyepharma added to the group’s strongly growing revenue streams of on-market products. This announcement confirms the additional anticipated milestone revenue for this financial year alongside the 3% share of sales of Exparel that the group receives.”
Vectura pioneers new ways of treating asthma and lung diseases. Its Skyepharma acquisition created a £1bn company generating sales of more than £150m a year.
