Vectura’s shares (LSE:VEC) took a hit on October 25 after its partner Novartis (NYSE:NVS; SIX:NOVN) said it’d delay regulatory filings of two of their respiratory drugs: NVA237 and QVA149.
The stock tumbled 20% that day and has been under selling pressure since then. It’s trading now at 52-week lows.
On the one hand, NVA237 (also named Seebri Breezhaler) will require additional data in the US hence delaying not only its NDA submission, but also affecting QVA149’s. On the other hand, on Sept 28, Novartis announced it had submitted a Marketing Authorisation Application (MAA) for NVA237 to the European Medicines Agency (EMA) triggering a $5m milestone payment under [Read more...]