Pulmonary product development in the UK has received a boost following the takeover of drug developer Innovata by biotech company Vectura for £131 million.

The acquisition is expected to be complete by mid-January 2007.

The two companies say together they will create a UK leader in pulmonary product development, a rapidly growing area in the pharma industry.

Vectura specialises in inhaled medicines for treating lung diseases and pulmonary conditions. Innovata  has more than 90 employees, of whom 65 are engaged in R&D, mainly based in Ruddington, Notts.

In addition to its pulmonary products, Innovata has a portfolio of other drugs with growing revenues, and it has development and marketing partnerships with a number of pharma companies, including Baxter, Merck, UCB and Otsuka.

The acquisition will create an enlarged group that has royalties from eight marketed products and 12 products in full development.

Innovata was given the go-ahead last summer from the FDA to commence marketing Adept, a treatment for internal scarring, and it is estimated that Adept could achieve peak sales of around £80 million.

pharmafocus@wiley.co.uk