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Skyepharma PLC: Skyepharma - Update on Formoterol Certihaler

^{Published on 2008-12-19 00:21:04 - Market Wire}
 

London, UK--(Marketwire - December 19, 2008) -

 Update on Formoterol Certihaler® LONDON, UK, 19 December 2008 -- SkyePharma PLC (LSE: SKP) 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) administered alone. 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 results. 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: SkyePharma PLC Ken Cunningham, Chief Executive Officer +44 207 491 1777 Peter Grant, Chief Financial Officer Financial Dynamics David Yates +44 207 831 3113 Jonathan Birt 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 [ www.skyepharma.com ]. This information is provided by RNS The company news service from the London Stock Exchange END