Matal
24 Apr 2018
Reasons for recent rise and fall perhaps! RNS Number : 9524LSosei Group Corporation 24 April 2018Statement re Vectura Group plcSosei Group Corporation ("Sosei"
notes the recent press speculation regarding a possible offer for Vectura Group plc ("Vectura". Sosei confirms that it does not intend to make an offer for Vectura.As a result of this announcement, Sosei will, except with the consent of the UK Panel on Takeovers and Mergers (the "Panel", be bound by the restrictions contained in Rule 2.8 of the Code.
raptor66
23 Apr 2018
Re: ShareCast News On 5th Jan 2018, JP Morgan Cazenove reaffirmed its overweight investment rating on Vectura Group PLC and cut its price target to 140p (from 170p).Recently JP upped VEC target to 180p and, ~40m shares traded I believe on that day.Market Molesters are at play and today decline could be a tree shaking exercise.Vectura reporting earnings on the 8th May 2018.Live in hope.
Andy Reilly
23 Apr 2018
Re: ShareCast News R666 - Poor sentiment and shorters having go at VEC I would imagine - a bit of a recovery from the v poor 10+ fall in the SP, BUT she still looks fragile, so it is going to take some time! C'est La Vie!
Kingel
23 Apr 2018
Re: ShareCast News No it is old sorry
raptor66
23 Apr 2018
Re: ShareCast News Kingel, I am wondering what is the reason behind the VEC battering today as your posting is not today's news??
Andy Reilly
23 Apr 2018
Re: ShareCast News ooops - there is no pleasing some people! I must try to type harder! ARPS the SP seems locked in a downwards trading channel ! Good God!
Andy Reilly
23 Apr 2018
Re: ShareCast News K - well despite all that - the marets hasn't smiled on VEC today.... its clearly going to take time to restore a bit of confidence and a better SP - The SKP merger hasnt been great so far for VEC! Oh well there is NO leasing soepeople... lets hope thing start to look better reasonably soon! ARPS - thanks for posting the Share Cast News view!
Kingel
23 Apr 2018
ShareCast News Inhaled product formulation, device design and development company Vectura Group announced its preliminary results for the year ended 31 December on Wednesday, with full year reported revenue of £148m, in line with board expectations.The FTSE 250 company said that was lower than 2016 full-year pro forma revenue of £183.6m, . with the drop put down to reduced revenues from non-recurring sources of £16.6m in 2017 compared to £57.3m in the 2016 proforma.It said 2017 underlying revenue was £131.4m, which was 4.0% higher and driven by the group's key-inhaled products, with underlying revenue from flutiform, Ultibro and Seebri Breezhaler rising 5.4% to £85.8m.Vectura said it saw "strong" annual in-market net sales growth from its key products too, with flutiform up 11.8% and Ultibro Breezhaler rising 20.6% at constant exchange rates.Group reported revenue growth was moderated compared to in-market sales growth by previously-reported destocking in the flutiform and Ultibro Breezhaler supply chains, which had no impact on in-market sales momentum, the board explained.The company made an IFRS-reported operating loss of £96.2m, which it said was due to the impact of a full year, non-cash charge for amortisation and impairment of intangible assets of £109.7m, arising from its prior acquisitions/Adjusted EBITDA was ahead of expectations at £25.8m, which was reportedly driven by in-line revenue performance, the delivery of merger synergy savings and tight research and development cost management.R&D costs of £60.3m were said to be at the lower end of the guidance range.The company had reported adjusted EBITDA for the nine month reporting period in 2016 od £34.1m.Vectura said the reduction in adjusted EBITDA compared to the reported nine-month figure for 2016 reflected a full year of R&D costs in 2017.The board also said that ongoing disciplined capital allocation and working capital management delivered "strong" operating cash inflows, and the group ended the year with a closing cash balance of £103.7m - up from £92.5m a year earlier."It has been an important year of progress for Vectura," said chief executive James Ward-Lilley."We have delivered a good set of financial results, in line with market expectations, and our key partnered inhaled products, flutiform and Ultibro Breezhaler, have continued to show strong in-market growth."Notwithstanding the disappointing delays we have seen for our VR315 (US) generic Advair programme, we continue to see substantial value in the development of complex inhaled generics."In light of that, Ward-Lilley said the company had extended its valuable inhaled generics portfolio, and in addition, it also progressed its enhanced therapy pipeline and fully delivered its merger integration plans."Our refocused investment strategy, announced in January 2018, is underpinned by a strong core business, tight financial discipline and a skilled workforce."We are committed to fully leveraging the capabilities and technologies that differentiate us to maximise the value of our pipeline at a substantially lower cost and relative risk."We have clearly defined priorities and we look forward to a series of significant news flow catalysts during 2018."
raptor66
23 Apr 2018
Re: Strange nobody ... added comment Frank Condella is leaving the board.[link]
burnchat
20 Apr 2018
Re: Strange nobody ... added comment Deal done as far as I am concerned, these types of moves are mere orchestration.
dave297
20 Apr 2018
Re: Strange nobody ... added comment HBM have reduced their stake substantially recently & maybe taking advantage of our current "strength " to unload completely at a profit-so HBM not involved in any bid scenarios
Chicken Lips
20 Apr 2018
Re: Strange nobody ... added comment Well to me that not very ringing endorsement suggests he has served his purpose in bringing Skyepharma and Vectura together and is surplus to requirements.It doesn't sound takeover - staying until July.
Ambiorix1
20 Apr 2018
Re: Strange nobody ... added comment FD's leaving ?... Could make sense if VEC is taken over by one of APAX partners funds…just like Unilabs was end of 2016… and isn’t there a link with Andreas Wicki, CEO of VEC’s main shareholder HBM healthcare ? Oh yes there is. Andreas Wicki was former CEO and founder of Vivagen Diagnostics, which he sold to Unilabs Corp in 1990, …which was completely taken over by APAX IX end of 2016… The apple never falls far from the tree.Ambiorix.
burnchat
20 Apr 2018
Re: Strange nobody ... added comment Or, all done and dusted.
dave297
20 Apr 2018
Re: Strange nobody ... added comment FD leaving is unlikely to be well received & if we were in the midst of takeover talks you would have expected him to stay until they were concluded,with view to his ( presumably) in depth knowledge of every aspect of the company.May make us more vulnerable to a bid if there are any interested parties
