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Business review – overview

Vectura Group plc and its subsidiaries (“Vectura” or the “Group”) is a product-focused Group that develops inhaled therapies principally for the treatment of respiratory diseases. Vectura’s main products target diseases such as asthma and chronic obstructive pulmonary disease (COPD); a growing market that is currently estimated to be worth $20bn. Vectura also develops products for other lung pathologies and non-respiratory diseases.

Vectura has eight products marketed by its partners and a portfolio of drugs in clinical and pre-clinical development, some of which have been licensed to major pharmaceutical companies. Vectura seeks to develop certain programmes itself where this will optimise value. Vectura’s formulation and inhalation technologies are available to other pharmaceutical companies on an out-licensing basis where this complements Vectura’s business strategy.

Vectura has development collaborations with several pharmaceutical companies, including Boehringer Ingelheim, Novartis, Sandoz (the generics arm of Novartis), Baxter, GlaxoSmithKline (GSK), Mylan, UCB and Otsuka. Vectura has been included in the FTSE 250 index since 23 March 2009.

©2009 Vectura Group plc Annual Report and Accounts 2008/09