Swiss pharmaceuticals giant Novartis has signed an agreement with Sunovion for US commercial rights to its chronic obstructive pulmonary disease (COPD) treatments. This should be positive news for its UK-based partner Vectura (VEC) yet that's not how the market is taking the news.
Investors are struggling to get excited about the deal with the share price in the inhaled airways business trading 2.6% lower at 133p.
In March, Shares flagged Vectura as one to watch following its merger with Skyepharma.
The licensing deal is specifically for the US and three inhalation powder treatments - Utibron Neohaler, Seebri Neohaler and Arcapta Neohaler.
Novartis will continue to manufacture these medicines for Sunovion and commercialise Ultibro Breezhaler, Seebri Breezhaler and Onbrez Breezhaler to COPD patients outside the US.
