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Skyepharma PLC (SKYEF) - Interim Management Statement


10/21/2010 12:30:26 PM

LONDON, UK, 21 October 2010 – SkyePharma PLC (LSE: SKP) today publishes its Interim Management Statement. This provides an update on key matters since the half year results announcement issued on 19 August 2010.

Pipeline and Product updates The European Marketing Authorisation Application for Flutiform™ is progressing and preparations continue to be made for a potential launch in 2011. Abstracts from two of the studies included in the filing were presented by the Group’s partner Mundipharma at the 2010 Annual European Respiratory Society Congress demonstrating effectiveness and speed of onset of the combination of fluticasone and formoterol.

The development of Flutiform™ for Japan continues in line with expectations, with preparations continuing for the initiation of Phase III clinical trials, which are expected to commence shortly.

The Group continues to investigate whether there is a viable way forward for Flutiform™ in the United States, including identifying potential partners to finance any additional work required.

Trading The Board continues to anticipate that revenues for the year as a whole will show modest growth compared with 2009, although manufacturing revenues for Q4, 2010, will be lower than the Board’s previous expectations.

Board Dr. Axel Müller was appointed Chief Executive Officer of the Group on 23 August 2010. Following the handover to Dr Müller, Dr. Ken Cunningham stepped down as a Director of the Group as planned on 30 September 2010.

Dr Axel Müller, Chief Executive Officer of SkyePharma, said, “SkyePharma has continued to make good progress, with the underlying business maintaining a solid performance during the third quarter. In my first few weeks as CEO I have been impressed by the potential across SkyePharma, both in terms of opportunities for Flutiform™ and to leverage the Group’s first class drug delivery technologies and skills.”

For further information please contact:

SkyePharma PLC Axel Müller, Chief Executive Officer +44 207 491 1777 Peter Grant, Chief Financial Officer

Financial Dynamics Jonathan Birt/Susan Quigley +44 207 831 3113

About SkyePharma PLC

Using its proprietary drug delivery technologies, SkyePharma develops new formulations of known molecules to provide a clinical advantage and life-cycle extension. The Group has twelve approved products in the areas of oral, inhalation and topical delivery. The Group’s products are marketed throughout the world by leading pharmaceutical companies. For more information, visit www.skyepharma.com.


Read at BioSpace.com


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