LONDON, UK, 19 December 2008 -- SkyePharma PLC (LSE:SKP.L - News) announces
that discussions about commercialising the approved formoterol
Certihaler® in the United States in 2009 have ceased. This follows
last week's recommendation by the Joint Advisory Committees to the Food
and Drug Administration that the benefits did not outweigh the risks in
the current asthma indications for Long Acting Beta Agonists (LABAs)
Cessation of production for formoterol Certihaler® will result in
asset write downs and a related non-cash charge estimated at GBP7
million to GBP8 million. This is likely to be charged in the 2008
Dr. Ken Cunningham, CEO of SkyePharma said, "It is disappointing
that formoterol Certihaler® is unlikely to be commercialised, but we
remain confident of the prospects of our other pipeline products
including FlutiformTM which remains on track for filing in Q1, 2009."
For further information please contact:
Ken Cunningham, Chief Executive Officer +44 207 491 1777
Peter Grant, Chief Financial Officer
David Yates +44 207 831 3113
About SkyePharma PLC
Using its proprietary drug delivery technologies, SkyePharma develops
new formulations of existing products 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 http://www.skyepharma.com.