LONDON, Aug. 8 /PRNewswire-FirstCall/ -- SkyePharma PLC announces that following completion of the audit of the Company’s financial statements for the year ended 31 December 2005 and the preparation and filing with the SEC of its 2005 Annual Report on Form 20-F, PricewaterhouseCoopers LLP (“PwC”) has given notice of its resignation as auditor. In its resignation letter PwC stated that: “Pursuant to Section 394 of the Companies Act 1985, we confirm that there are no circumstances connected with our resignation which we consider should be brought to the notice of the shareholders or creditors of Skyepharma PLC.”
SkyePharma’s Audit Committee has invited tenders from certain qualified auditing firms and the Company will make a further announcement in due course when a new auditor has been appointed. It is anticipated that the new auditor will be responsible for reviewing the unaudited interim results for the six months ended 30 June 2006, which are expected to be announced in late September 2006.
PwC has been SkyePharma’s auditor for the past ten years. PwC’s resignation coincides with the lead audit partner’s required rotation after five years under the Auditing Practices Board’s Ethical Standards guidelines.
For further information please contact: SkyePharma PLC +44 207 491 1777 Peter Laing, Director of Corporate Communications 44 207 491 5124 Sandra Haughton, US Investor Relations +1 212 753 5780 Buchanan Communications +44 207 466 5000 Tim Anderson / Mark Court / Rebecca Skye Dietrich About SkyePharma
SkyePharma PLC develops pharmaceutical products benefiting from world- leading drug delivery technologies that provide easier-to-use and more effective drug formulations. There are now twelve approved products incorporating SkyePharma’s technologies in the areas of oral, injectable, inhaled and topical delivery, supported by advanced solubilisation capabilities. For more information, visit www.skyepharma.com.
SkyePharma PLC
CONTACT: Peter Laing, Director of Corporate Communications+44-207-491-5124, US Investor Relations - Sandra Haughton, +1-212-753-5780,both of SkyePharma PLC, +44-207-491-1777; Tim Anderson, Mark Court, orRebecca Skye Dietrich, all of Buchanan Communications, +44-207-466-5000,for SkyePharma PLC
Web site: http://www.skyepharma.com/
