SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a - 16 OR 15d - 16 OF
THE SECURITIES EXCHANGE ACT OF 1934
For the month of November, 2006
SkyePharma PLC
SkyePharma PLC, 105 Piccadilly, London W1J 7NJ England
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40F.
Form 20-F X Form 40-F
Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes No X
If "Yes" is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): 82- _______
For Immediate Release 7 November 2006
SkyePharma PLC
ABBOTT ACQUIRES KOS PHARMACEUTICALS
POSITIVE DEVELOPMENTS FOR FLUTIFORM(TM)
LONDON, UK, 7 November 2006 -- SkyePharma PLC (Nasdaq: SKYE; LSE: SKP) notes
that Abbott yesterday announced the acquisition of Kos Pharmaceuticals, Inc. Kos
has the exclusive licence to jointly develop Flutiform(TM), SkyePharma's novel
combination product for asthma and chronic obstructive pulmonary disease
("COPD").
In their statement Abbott said:
"Flutiform(TM), in-licensed from SkyePharma, is currently in late-stage
development for adult and adolescent asthma and will provide an expanded
presence for Abbott in the $10 billion asthma market, in addition to Kos'
currently marketed asthma product."
SkyePharma Chief Executive Officer, Frank Condella, said:
"We are encouraged by Abbott's statement regarding Flutiform(TM). This
transaction is a positive development for our lead product. Abbott brings
additional size and marketing strength in the primary care area which
complements the specific expertise Kos has in inhalation therapies."
For further information please contact:
SkyePharma PLC +44 207 491 1777
Frank Condella, Chief Executive Officer
Ken Cunningham, Chief Operating Officer
Buchanan Communications +44 207 466 5000
Tim Anderson / Mark Court / Rebecca Skye Dietrich
The Trout Group + 1 617 583 1308
Seth Lewis
About SkyePharma PLC
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 eleven 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.
About Flutiform(TM)
SkyePharma's product Flutiform(TM) consists of a unique fixed-dose combination of
the long-acting bronchodilator formoterol with the inhaled steroid fluticasone
in a proprietary non-CFC metered-dose aerosol inhaler with a dose counter.
Formoterol provides 12 hours of bronchodilation and has a rapid onset of action
(1-3 minutes). By contrast salmeterol, the bronchodilator used in
GlaxoSmithKline's Advair/Seretide, also provides 12 hours of bronchodilation but
needs up to 30 minutes after inhalation to take effect. The inhaled steroid
fluticasone (a component of Advair/Seretide) has low systemic absorption and is
perceived to have a better safety and efficacy profile than budesonide, the
steroid used in AstraZeneca's Symbicort, and is the physician-preferred inhaled
steroid in the US. The proprietary SkyeDry(TM) formulation technology employed in
Flutiform(TM), designed to stabilise the active components and thereby ensure a
reproducible dose even after prolonged storage, provides patent protection to
2019. The product will be available in two dose combinations with each dose
delivering 10 microgrammes of formoterol with either 100 or 250 microgrammes of
fluticasone.
Flutiform(TM) completed its Phase II trial in asthma in 2005. The results
confirmed that Flutiform(TM) behaved exactly as if the two component drugs had
been taken separately, with rapid onset of bronchodilation that was maintained
for 12 hours, no evidence of drug-drug interactions and no safety concerns.
Following discussions with the FDA on the Phase II trial results, the Phase III
trial of Flutiform(TM) started on schedule in February 2006. The trial programme
is on track for SkyePharma's target of regulatory submission in the second half
of 2007. SkyePharma believes that Flutiform(TM) should reach the US market in
2009.
Certain statements in this news release are forward-looking statements and
are made in reliance on the safe harbour provisions of the U.S. Private
Securities Litigation Act of 1995. Although SkyePharma believes that the
expectations reflected in these forward-looking statements are reasonable, it
can give no assurance that these expectations will materialize. Because the
expectations are subject to risks and uncertainties, actual results may vary
significantly from those expressed or implied by the forward-looking statements
based upon a number of factors, which are described in SkyePharma's 20-F and
other documents on file with the SEC. Factors that could cause differences
between actual results and those implied by the forward-looking statements
contained in this news release include, without limitation, risks related to the
development of new products, risks related to obtaining and maintaining
regulatory approval for existing, new or expanded indications of existing and
new products, risks related to SkyePharma's ability to manufacture products on a
large scale or at all, risks related to SkyePharma's and its marketing partners'
ability to market products on a large scale to maintain or expand market share
in the face of changes in customer requirements, competition and technological
change, risks related to regulatory compliance, the risk of product liability
claims, risks related to the ownership and use of intellectual property, and
risks related to SkyePharma's ability to manage growth. SkyePharma undertakes no
obligation to revise or update any such forward-looking statement to reflect
events or circumstances after the date of this release.
END
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
SkyePharma PLC
By: /s/ Douglas Parkhill
Name: Douglas Parkhill
Title:
Company Secretary
Date: November 7, 2006