SkyePharma plc
Skyepharma: 2005 results
Skyepaharma’s 2005 results once again demonstrated how undependable its revenue streams were. Despite being insulated from the worst of the interruptions to the supply of Paxil CR over the year (by a new royalty agreement with Glaxosmithkline) this, together with the lack of new licensing revenues lead to an 18% fall in revenues.
There is little […]
Skyepharma: compromise over board
Shoerholders’ who were attempting to appoint Robert Thian to the board of Skyepharma have failed at the EGM.
They have now reached an agreement with the incumbent management to appoint two non-executive director instead. This leaves the management of the company essentially unchanged.
It also leaves the company likely to continue with the disposal of the injectables […]
Skyepharma: EGM forced
A group of shareholders, most prominently North Atlantic Value, has forced an EGM to consider the appointment of Robert Thian as a director. Their stated intention is to subsequently have him appointed executive director.
Former chairman Ian-Gowrie Smith has already resigned (both as chairman and, more recently, as a director), and a new Chairman appointed by […]
Skyepharma: new management and strategy
The board of Skyepharma has appointed a new chairman, CEO and COO. It is not yet clear what reaction we can expect from the shareholders who forced out former chairman Ian Gowrie-Smith. Takeover talks have also ended.
The company has also announced a new strategy aimed at bringing the company to profitability more quickly. Skyepharma plans […]
Skyepharma: resignation of chairman
Most changes to the board, particularly of a non-executive, have little impact on valuation and we do not usually comment on them.
Ian Gowrie-Smith’s resignation from Skyepharma is somewhat different as he has been forced out by a group of shareholders lead by North Atlantic Value. As he remains on the board, and the board clearly […]
Skyepharma H1 results
Skyepharma’s H1 results showed little total revenue growth and increases losses. The results were accompanied by news of a 1 for 5 rights issue which aims to raise approximately £35m. The money is needed to develop its asthma treatment, Flutiform.
The poor performance and the need for the rights issue are linked. If Skyepharma had succeeded […]
Paxil CR supply resumed
Glaxosmithkline has solved its manufacturing problems and resumed the supply of Paxil CR to the US. Supplies of the other drug affected, Avandamet, are expected to resume in two weeks.
Glaxo has been able to deliver within the timetable it promised and the news removes once uncertainty, although the short term nature of the problem and […]
Skyepharma: results, Paxil royalties
Skyepharma has renegotiated (for the better) its license agreement with Glaxosmithkline and announced good full eyar results for 2005.
Skyepharma
Skyepharma is very different from most of the rest of the sector. it is a not a drug company, it is a drug delivery company. Its technologies enable drugs to be delivered in a formulation that has some advantage over a more standard method of delivery - these include sustained release pills and injections, inhalers […]
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