Half Year Results 

Vectura takes a beating

Vectura takes a beating

Often, in the world of pharmaceuticals, positive pipeline announcements can hide a multitude of financial woes. Vectura (VEC) chose the day of its half-year results to announce the acceleration of its VR410 dry powder inhaler development programme. But investors were unimpressed, sending shares down 13 per cent on the day it reported widening operating losses due to higher amortisation charges linked to the acquired Skyepharma intangible assets.

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