Vectura inks U.S. development deal for asthma therapy

The UK's Vectura Group says it has inked a U.S. development pact on a combinational asthma therapy, VR315, with a "leading international pharmaceutical company." The unnamed company has agreed to provide up to $63 million in milestone payments and will share any profits. Vectura has been working on a copycat version of Glaxo's best selling asthma drug Advair, which loses patent protection in 2010. Vectura announced a pact for Europe last spring with another unnamed company, but analysts speculated that Sandoz was the likely partner.

- here's the report on the deal from AFX

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