Vectura Group Reaffirms Special Dividend Plan After End of Litigation
By Adria Calatayud
Vectura Group PLC said Wednesday that it plans to go ahead with
its plan to pay a special dividend, as it considers that a U.S.
patent-litigation process with GlaxoSmithKline PLC is now fully
Vectura, a U.K. pharmaceuticals business specializing in inhaled
medicines, said Glaxo hasn't petitioned the Supreme Court in
relation to a U.S. patent litigation concerning Glaxo's Ellipta
products, and that this was the final route of appeal.
To date, Vectura has received 127.6 million pounds ($177.9
million) from Glaxo in respect of the U.S. patent litigation, it
said. Vectura said it can execute its growth plans without using
these funds, which allow it to pay a special dividend of 19 pence a
share, totaling GBP113 million, and to launch a share
The share consolidation will replace every six existing shares
with five new shares, Vectura said.
The special dividend and share consolidation are subject to
shareholder approval. A general meeting is due to be held on May
27, Vectura said.
Shares in Vectura at 0712 GMT were up 3.9% at 116 pence.
Write to Adria Calatayud at email@example.com
(END) Dow Jones Newswires
April 21, 2021 03:37 ET (07:37 GMT)
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