Vectura Group, a respiratory drugs specialist, will work with Janssen Biotech to develop treatments for asthma and lung disease COPD, it said on Tuesday.The collaboration will kick off with the development of a drug candidate for intermediate Phase II clinical trials, the British company said.Janssen, a unit of Johnson & Johnson, will then use Vectura's dry powder inhaler technologies in the development of inhaled therapeutics for airways-related diseases such as asthma, a market worth in excess of $46 billion worldwide, Vectura said.Shares in Vectura, which also has collaborations with companies including Novartis and GlaxoSmithKline, were trading up 1.3 percent at 133 pence at 0937 GMT.
Johnson & Johnson is a holding company engaged in the research and development, manufacture and sale of a broad range of products in the health care field. Shares of JNJ fell by 0.7% or $-0.73/share to $103.79. In the past year, the shares have traded as low as $86.09 and as high as $109.49. On average, 8257760 shares of JNJ exchange hands on a given day and today's volume is recorded at 8079279.
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