SKP15 Oct 2012 08:03
SKYEPHARMA PLC - INTERIM MANAGEMENT STATEMENT
LONDON, UK, 15 October, 2012 - SkyePharma PLC (LSE: SKP) today publishes its Interim Management Statement for the period 1 July 2012 to 14 October 2012 and provides an update on key events since the half-year results announcement issued on 23 August 2012.
Pipeline and product updates
flutiform® - Europe
In September 2012, flutiform® was launched in Germany and the UK and, in early October 2012, the Group received related launch milestones totalling €8.0 million (£6.3 million) from its development, marketing and distribution partner, Mundipharma International Corporation Limited ("Mundipharma"). These milestones will be included in revenues and operating profit for the year, but half of the cash received has been paid out as a mandatory prepayment of the Paul Capital Note.
As announced on 3 July 2012, the European Commission adopted a decision in favour of granting marketing authorisations for flutiform®, which covers the 21 member states in the decentralised procedure. Marketing authorisations have so far been granted in 10 countries, with flutiform® launched in Germany, UK, and the Netherlands and national marketing authorisations granted in Austria, Cyprus, Denmark, Iceland, Norway, the Slovak Republic and Sweden. On 8 October 2012, the Scottish Medicines Consortium accepted flutiform® for use in NHS Scotland for appropriate asthma patients.