Vectura to receive milestone payment for EXPAREL

Inhaled airways disease focused company Vectura Group announced on Friday that a sales milestone receipt of $8m has been triggered following confirmation by Pacira Pharmaceuticals that worldwide annual net sales of EXPAREL, on a cash received basis to 30 June, were above $250m.

The FTSE 250 firm said that on 4 August, Pacira announced net sales of EXPAREL of $65.8m in the second quarter, an increase of 15% compared with the first quarter of 2015.

It also confirmed that preparations in support of the launch of EXPAREL in oral surgery in September are on track.

“We are pleased to see the continued evolution of sales for EXPAREL triggering this milestone payment to Vectura,” said CEO James Ward-Lilley.

“The merger with Skyepharma added to the group's strongly-growing revenue streams of on-market products.

“This announcement confirms the additional anticipated milestone revenue for this financial year alongside the 3% share of sales of EXPAREL that the group receives.”