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news.Vectura Group, a developer of inhaled therapies for the treatment of respiratory diseases, has reported revenue of £42.9m for the first quarter ended 31 March 2011, an increase of 7% , compared to £40.1m for the same period in 2010.
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Vectura‘s net income operating income was £13.3m, compared to £15.3m for the same period in 2010.
The company’s gross profit increased by 10% to £40.2m (2009/10: £36.6m).
Vectura CEO Chris Blackwell said continuing the drive to increase revenues and reduce losses, the company has delivered another set of results, ending the financial year with cash of over £74m.
"Following the R&D restructuring undertaken in the year, we have focused our pipeline on key respiratory products and consolidated our formulation activities at our Chippenham facility, resulting in annual cost-savings of nearly £6m per annum," Blackwell said.