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Home Industry News Boehringer Ingelheim makes Vectura milestone payment

Boehringer Ingelheim makes Vectura milestone payment

5th November 2008

Boehringer Ingleheim (BI) will make a milestone payment to Vectura for its license to develop and market a drug to treat chronic obstructive pulmonary disease and other respiratory diseases.

The payment will be made under the terms of an agreement between the two companies that was signed in April 2006.

Since then the companies have worked together to develop a fully-integrated multi-dose powder inhaler.

BI’s entitlement includes developing and marketing the drug in a branded version of the inhaler.

This payment is for 7.5 million euros (six million pounds) and brings the total of monies paid to 37.5 million euros.

Additional milestone payments are expected to be made for each product developed in the inhaler and Vectura will also receive royalties on global sales of BI products delivered using the inhaler.

Dr Chris Blackwell, chief executive of Vectura, said: “BI has demonstrated a strong commitment to respiratory medicine resulting in the successful development of products such as Spiriva.

“Vectura will continue to develop its own products and seek credible and committed partners to realise value from their products using Vectura’s technology.”

BI has recently announced the discontinuation of its Combivent Metered Aerosol, following a consultation with the Department of Health and in accordance with the European Commission strategy for the phasing-out products using environmentally damaging gases.

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