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Vectura Updates On GSK Litigation

Vectura Group plc (VEC), in an update on GSK Litigation, said the U.S. judge's post-motions ruling further validates Vectura's original decision to pursue action with GSK.

The US$89.7 million jury award to Vectura was based on a 3% royalty rate applied to US sales of GSK's infringing products from August 1, 2016 to December 31, 2018. Judge Andrews granted Vectura's motion for supplemental damages based on GSK's infringing sales from January 1, 2019 to May 16, 2019 at a 3% royalty rate, which results in approximately US$10.5m in additional damages payable to Vectura.

US District Judge Richard Andrews granted Vectura's motion for an ongoing royalty rate of 3% on U.S. sales of GSK's infringing products from May 17, 2019 to expiration of Vectura's patent in mid-2021.

Judge Andrews granted Vectura's motion for pre-judgment interest at the prime rate, compounded quarterly, which results in approximately US$6.7 million due to Vectura.

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