Anybody else out there interested in these?

2002 Results are due in April, and they are expected to show a maiden profit.
Last week I opened a small speculative long (spreadbet), but I am looking to add to this position a lot more if we get any sort of resolution over Iraq crisis before the results which should spark a broad market rally from which SKP could really benefit and have a strong run-up.

DYOR etc.


Here is a recent research note from Merrill Lynch (they estimate 0.25p EPS for 2002):


Merrill Lynch FlashNote

7 February 2003

SkyePharma

Newsflow Set To Continue BUY

Reason for Report: Company Update

EPS (Dec): 2001A -1.19p; 2002E 0.25p; 2003E 2.13p
P/E (Dec): 2001A NM; 2002E 180.0x; 2003E 21.1x

Michael Ashton, CEO SkyePharma, gave an upbeat and informative presentation today.

Depomorphine appears on track for US submission in June 03. The two pivotal trials (hip and lower abdominal surgery) have been concluded. To date, the results appear encouraging. Management believe that safety (eg respiratory depression and nausea) is not an issue for the drug.The company is also conducting an additional trial in C section patients which is completing enrollment and should be included in the European submission for Depomorphine later this year. We expect the pivotal trial data for Depomorphine to be presented at the American Society of Clinical Anaesthesiologists in October 2003.

Paxil CR continues to grow (accounting for c.26% of total Paxil scrips in the US). 50% of these Paxil CR scrips are repeat and Paxil CR accounts for c.7% of the total SSRI antidepressant market in the US. Paxil CR is already filed for pre-menstrual dysphoria disorder (PMDD). However, GSK also plans to submit the intermittent treatment of PMDD later this year.

SKP also confirmed that Quintiles plans to present new data for Solaraze at the American Society of Dermatology in March. SKP believes that Solaraze is making in-roads into the actinic keratosis market and appears to be taking market share from Ephedrex (5-FU). Clinical trials in Australia are on track, with SKP planning to submit Solaraze to the Australian regulatory authorities in 2004 (second largest market opportunity after the US).

Enzon has already started to market DepoCyt in the US and SKP expects to see wider usage of the drug by key oncologists in the next few months. Phase IV studies for the neoplastic meningitis indication are on track, with an FDA Advisory Committee meeting (ODAC) scheduled next month.

Overall, we expect the newsflow for SKP to continue and reiterate our BUY recommendation with a price objective of 80p (based on applying the speciality pharma multiple to our 06E EPS of 14p and discounting back agressively at 30% p.a.). Risks to the stock include the general risk of drug development delay and product approval failure.

That is an excellent post and many thanks for the update.I have held for a number of years,having top-sliced in early 2000;so I am in at a very low net cost and can afford to wait for success which I am sure will arrive.This is a share which has a firm downside resistance at 40p;so anyone going in long term to-day should benefit over the next 2 years-it will be a leader when the oversold Health sector roars back into favour and if the profit is realised then the 80p projection will be left in the slipstream.

some more positive news:


RNS Number:0658I
Skyepharma PLC
27 February 2003


For Immediate Release 27 February, 2003


SkyePharma Announces Proof of Principle for Second
Sustained-Release Injectable Technology for Protein Drugs


LONDON, UK, 27 February, 2003 -- SkyePharma PLC (NASDAQ:SKYE; LSE:SKP) announced
today that its Biosphere(R) sustained-release injectable technology had been
successfully used to deliver a protein drug over an extended period of time. A
paper in Drug Delivery Systems & Sciences (Vol 2 No 4 103-109) by scientists
from SkyePharma's research unit in Malmo, Sweden describes animal studies on the
release of human growth hormone over a period of two weeks from a single
injection. In the study, the human growth hormone was encapsulated with high
efficiency and released evenly throughout the period. Importantly the mild
encapsulation process and the inert conditions within the Biosphere(R)
particles preserved protein structure and function.

Dr Timo Laakso, head of R&D at SkyePharma Sweden that is developing the
Biosphere(R) technology, said "Now that proof of principle has been fully
established in animal studies, we can move to testing in man. Preparations are
in progress for manufacture of clinical trial material at our GMP-approved
facilities in Malmo."

The Biosphere(R) technology encapsulates the drug substance in highly purified
starch in microscopic spheres that are then coated with a copolymer of lactic
and glycolic acid (PLG). After injection, the coating and core erode and the
drug content is released over a period that can be controlled from days to
months. In contrast with conventional microspheres, the coating used in
Biosphere(R) does not contain any drug so there is a low "burst" even at high
drug loadings. The Biosphere(R) technology achieves encapsulation of protein
drugs under gentle conditions that avoid exposure of the protein to organic
solvents that can often cause structural changes.

Biosphere(R) is SkyePharma's second sustained-release injectable technology.
The first, DepoFoamTM, consists of tiny particles that contain the drug
dissolved in water in discrete compartments distributed throughout a lipid
"honeycomb" matrix. DepoFoamTM technology is employed in DepoCytTM, a
sustained-release injectable formulation of cytarabine that is already approved
and on the market in the USA for the treatment of lymphomatous meningitis. A
second DepoFoamTM product, DepoMorphineTM (sustained-release injectable
morphine for relief of moderate to severe post-operative pain) has completed its
pivotal Phase III trials and SkyePharma expects to file marketing applications
later this year. Among protein drugs, SkyePharma is also developing a
DepoFoamTM sustained-release formulation of interferon alpha-2b for GeneMedix
plc.

SkyePharma believes that the main potential for both DepoFoamTM and
Biosphere(R) technologies lies in their use to improve the delivery of
biologicals (protein drugs), an increasingly important challenge for the
pharmaceutical industry. There are already over one hundred protein or peptide
drugs on the market (with many hundreds more in clinical development) and this
type of drug normally cannot be given orally because proteins will not survive
passage through the digestive system. However the short half-life of most
protein drugs means that injections usually need to be given frequently and as
injections are unpopular with patients, compliance tends to be poor.

Michael Ashton, SkyePharma's Chief Executive Officer, said "With the
complementary DepoFoamTM and Biosphere(R) technologies, SkyePharma is now able
to formulate not only proteins and other drugs that are stable in water solution
but also those that are sensitive to water and organic solvents. With the
breadth and depth of our sustained-release delivery technology, SkyePharma is
well positioned to be a major participant in the development of unique
value-added biological products."


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 nine approved products incorporating three of
SkyePharma's five delivery technologies in the areas of oral, injectable,
inhaled and topical delivery, supported by advanced solubilisation capabilities.
For more information, visit www.skyepharma.com.

LONDON (AFX) - GlaxoSmithKline PLC has lost a key court case protecting
patents on its biggest selling drug, the antidepressant Paxil, according to US
industry sources.
A Chicago court ruled against GSK's claim that a generic version of Paxil by
Canadian company Apotex breached its patents.
US industry sources said Apotex could launch its version of the drug as
early as September.
email: newsdesk@afxnews
jm/ak




The effect of this ruling on SKP is rather complicated and unclear, it should be beneficial in the short term as GSK will push Paxil CR as hard as possible, but could mean less revenue for SKP in the long term.

Bit of action today, One could be cynical about this as it is thought that csfb still have a stock overhang from a large purchase at the end of last year from Janus capital, i'm still waiting for the right moment to top up my long position on SKP prior to results.
:

(7.36 am)
LONDON (AFX) - Skyepharma is expected to attract fresh support in opening
deals as the influential pharmaceuticals team at CSFB adopted a much more
positive tack.

The broker upped its recommendation on Skyepharma to 'outperform' from
'neutral', and hiked its price aim to 105 pence from 71 pence.


end

From todays FT.

Drug company SkyePharma rose 4.6 per cent to 45.5p as Credit Suisse First Boston upgraded it to "outperform" from "neutral", simultaneously raising its target price to 105p from 71p. CSFB said SkyePharma's "attractive" pipeline of new products would probably allow the company to move into profit, and estimated royalty revenue would rise from 7.3m last year to 93m in 2006.

no one has discussions here. not enough ppl. its not really worth it mate. Im going back to ADVFN with my contribution to skp. DOH!!

Homer
someone has to try and get the ball rolling

anyway here is the full blurb from csfb

CSFB 6th March 2003

Upgrading to Outperform vs Neutral. TP up to 105p (71p)

Our rating upgrade reflects our view of SKP's attractive portfolio of products, promising late-stage pipeline and probable move into reported profitability (even if it is flattered by financial structure). Our new share-price target is 105p (previously 71p).

Three big pharma companies relying on SKP's technologies.

Paxil CR is SkyePharma's most conspicuous success, in our opinion, accounting for 32% of new Paxil scripts in the US, with a 3% gross royalty from GlaxoSmithKline to SKP. (Note our model assumes the entry of generic paroxetine in fourth-quarter 2003). Similarly, Sanofi-Synthabo markets Xatral XL for prostatism in Europe and plans to launch it as UroXatral in the US in 2003. Schering-Plough plans to launch its Foradil Certihaler for asthma in the US in second-half 2003.

Excellent profit share on DepoMorphine and Propofol-IDD.

SEC documents reveal that SKP's deal with Endo on these exciting pipeline drugs provides exceptional economics, in our view. The US$37m in upfront fees from Endo, and from Enzon for DepoCyt, should enable the company to report a profit for 2002, because UK accounting rules are less prescriptive than US GAAP.

Positives outweigh negatives.

We believe the positives on SKP now significantly outweigh the negatives that we have previously emphasised, such as poor disclosure (DepoCyt withdrawal), circular deals (Bioglan and Astralis) and atypical financings (Paul Capital).

High growth rates.

We expect royalty revenue to grow from 7.3m in 2002 to 93.0m in 2006 (CAGR 89%). We forecast total revenue (including deal-related milestones) to grow from 71.1m in 2002 to 168.5 in 2006 (CAGR 24%). We forecast PBT to grow from 1.3m in 2002 to 61.1m in 2006. We expect basic EPS to grow from 0.2p in 2002 to 8.8p in 2006, although the number of shares outstanding could be increased by pre-agreed contingent share issues

Analyst at WestLB Panmure argues that the turn of events could be good news for GSK’s partner Skyepharma (SKP), which developed Paxil CR.
Malik forecasts Glaxo will want to make Paxil CR 50% of its anti-depressant franchise ahead of generic competition.



Analysts shrug off GSK's Paxil patent woes



A more effective version of Paxil likely to more than offset competition from generics

GlaxoSmithKline (GSK) has lost a landmark court case in its bid to defend Paxil from generic competition but analysts believe Paxil CR, the controlled release version of the anti-depressant will save the day.

The drug giant announced this morning that in a Chicago court battle Judge Posner ruled the hemihydrate patent for the blockbuster selling anti-depressant was valid but generic competitor Apotex’s anhydrate formulation did not infringe the patent.

The news knocked the stuffing out of the drug giants’ shares, and by late afternoon stood 3.1% to 1087p. Paxil counts as 10% of sales.

However Glaxo plans to appeal the ruling, which will take 12 months to be heard, and analysts say Apotex is unlikely to launch their generic version in the interim and according to James Culverwell at Merrill Lynch not until 20th September 2003 at the earliest.

Although the ruling casts a shadow over the stock analysts remain buyers. Navid Malik, analyst at Williams de Brosays on the bright side GSK had ‘partially favourable’ rulings on Paxil patents last year and he expects the company to start aggressively switching into Paxil CR, the controlled release version of the drug, which already counts for a third of new prescriptions. Paxil CR is considered to induce fewer side effects such as nausea and as such has a lower dropout rate. Malik forecasts Glaxo will want to make Paxil CR 50% of its anti-depressant franchise ahead of generic competition.

Culverwell has similarly adjusted his forecasts, anticipating a generic launch by 2004. He argues that the likely loss of Paxil is already in the price and the premature loss of the drug actually ‘removes the 2007 final patent expiry overhang’. However risks of litigation, R&D failure and adverse currency issues remain a concern.

On the plus side Dr. Keith Redpath, analyst at WestLB Panmure argues that the turn of events could be good news for GSK’s partner Skyepharma (SKP), which developed Paxil CR. Skyepharma shares fell 3% but Redpath argues that some City investors do not understand that doctors prescribing Paxil CR are unlikely to switch into a generic copy of Paxil original because of the side effect profile.

Glaxo said its earnings guidance remains at the high single digits for the present but warned it may be revised if a generic version is launched. Meanwhile a further case concerning Paxil is to be heard in Philadelphia.

Keep up the good work, I've come in to this website, so I'll also post on SKP.
Today's West LB Panmuir comments are obvious in advance to nearly everyone, so it came as no surprise.
Volume up today, as with many stocks

H.

Homer,to each his own.

I'm a long term holder in an identical position to Nathan above, ie after top slicing at the peak my residual holding is at very low unit cost.

I prefer this style of thread to the ADVFN SKP threads. Lets just communicate when there is something worthwhile to say, rather than on the other side where SKP is just a vehicle for for a lot of windbagging by the same few pompous prats on a daily basis. The whole thing degenerated into personal abuse of farsical magnitude over there.

For me, the few posts above tell pretty much the whole story as it stands at present. So although I regard myself as pretty well informed about this share, I've nothing to add. Sitting tight, keeping the faith, may top up soon.

regards to all fellow holders.

I have added to my long position this morning and looking forward to results on the 2nd April.
Good luck to all holders

If anyone wants an excellent introduction to this company and their products you can listen to a webcast of yesterday presentation at SG Cowans Annual Healthcare Conference found at this link


http://www.corporate-ir.net/ireye/ir_site.zhtml?ticker=SKYE&script=1010&item_id=719277

FTSE 250 risers

SkyePharma 45-3/4 up 3

Merrill Lynch 'buy' with 80 pence price target
..............................................



results next wednesday

doh! im gonna buy some now

Not too late to jump on board Homer,
looks like some others are just cottoning-on:


28 Mar 2003 13:50 GMT

SkyePharma rises on hopes of maiden profit

LONDON, March 28 (Reuters) - Shares in Britain's SkyePharma Plc rallied on Friday as analysts raised hopes the drug delivery specialist would report its first full-year profit next Wednesday and stay in the black thereafter.
The shares had climbed 7.6 percent to 46 pence by 1345 GMT, valuing the business at around 279 million pounds ($435.8 million).

Joint house broker Merrill Lynch said in a note to clients it expected SkyePharma to make a profit of 200,000 pounds for 2002, compared with a loss of 9.5 million in 2001.

The investment bank is also forecasting net profit of 15 million pounds for 2003, driven by milestone payments as SkyePharma clinches a European partner for its biggest new drug hope, painkiller Depomorphine.

SkyePharma, which made a four million-pound loss at the half-year stage, said in January it did not know for sure whether it would post a profit for 2002 as it signed two other drug partnering deals.

As both deals were signed at the end of December, the firm hopes to recognise some of the revenue from them in 2002.

"People have been looking for this for a while (a move to sustainable profitability), and this time I think we're going to see it," said Keith Redpath, an analyst at WestLB Panmure. He is forecasting 2002 pre-tax profit of about one million pounds.

not long to go now

Good write up in yesterdays The Business

maiden profit of 1.33 mln. nice one skp, congrat to the managment

Do any of the previous holders of this share still do so? I have been holding for the long term (for a while now) and still feel this share has further to run. However, the share price has had a great run of late since its disappointing summer announcements. The only recent positive news I can find relates to its filing for a patent on Depomorphine, which doesn't seem to justify its latest rise. Does anyone know any more ?

Another contract tie up, this time with Novartis for one of their asthma drugs, on the back of the depomorphine announcement, has perked the shares up again. Any other holders/opinions out there?

We have one big problem with SKP, a past director, Dr Gonnella, a major shareholder is selling on any rise. So far he has sold millions of shares, trouble is, he has still got 40 million more ready no doubt for the next good piece of news.

Skp have some major products on the market and many more due, but as long as Gonnella is there we have to be patient!

Recent RNS, Fidelity have increased their holding again, they now hold 11.93%. They also hold 5,000,000 6% convertible bonds due 2005.

Ian Gowrie Smith is standing down as chief exec to become a non exec director. Wonder what impact this is going to have - hopefully a positive one as he has never been well liked by the city and been deemed to be holding the share price back! Maybe he is making way before the takeover approach (wishful thinking on my part i believe). Still with the right man at the helm, things could certainly be looking up at SKP (all imho). Share price in US appears not to have reacted to the news!


LONDON (AFX) - Skyepharma PLC said Ian Gowrie-Smith will step down from his executive role as a chairman to a non-executive role at the company's next annual general meeting in 2004.
This will enable Gowrie-Smith to concentrate on his other business interests, including Triple Plate Junction PLC whose fund-raising and intention to join the Alternative Investment market are being announced today. He is a non-executive chairman of the gold exploration and mining company.
Gowrie-Smith said: "It has been a great challenge to start and then build first Medeva and now SkyePharma. However it is in the earlier stages of a company's development where I believe I can make the greatest contribution."


also, more news re Paxil CR today:



LONDON (AFX) - SkyePharma PLC said a new study has shown that patients with depression who were prescribed GlaxoSmithKline's controlled-release antidepressant, Paxil CR, were less likely to discontinue therapy than patients receiving immediate-release selective serotonin reuptake inhibitors (SSRIs).
Paxil CR is a modified version of Glaxo's SSRI antidepressant and incorporates SkyePharma's Geomatrix oral controlled release delivery technology.

Paxil CR has been available in the US market since April 2002 and SkyePharma receives a royalty on Glaxo's sales.
In the three months to Sept 30 2003, sales of Paxil CR were 110 mln stg, representing 30 pct of the US Paxil franchise.

Yet again Skyepharma have disappointed the city. Again, key deals have failed to be signed and the share price has plummeted 13.5p on the back of the RNS. The year end figures are going to be below expectations due to not signing the contracts in time, though they still expect the contracts to be signed in the near future.

Full RNS:


RNS Number:8370T
Skyepharma PLC
05 January 2004


For Immediate Release 5 January, 2004


SKYEPHARMA PROVIDES END-2003 TRADING UPDATE


LONDON, UK, 5 January 2004-- SkyePharma PLC (Nasdaq: SKYE; LSE: SKP) announces a
Trading Update for the year ending 31 December 2003.


As a result of delays in concluding a number of key deals in 2003, revenues for
the year will be substantially below the #85-100 million range indicated at the
time of the Interim Results in September and below the #70 million achieved in
2002. Milestone payments remain a major source of our revenues, and this
shortfall primarily arises because several key deals that we had expected to
conclude in 2003 are still in negotiation, with finalisation now expected in
early 2004. With revenues below our budgeted revenue target, coupled with
greater than expected research and development costs (arising from delays to
completion of agreements involving the transfer of costs to the partner), the
Company now expects to report a loss for the second half of 2003 albeit less
than the loss we reported for the first half. A number of key deals, potentially
involving total milestone payments of up to $200 million and double digit
royalty income, remain in advanced stage negotiation with multiple potential
partners. We remain confident that these agreements can be concluded on
satisfactory or better terms in the current year. This would have a
correspondingly positive impact on the profit already budgeted for 2004 (which
assumed these agreements were signed in 2003).


The company expects to have cash balances of approximately #20 million at 31
December 2003, marginally lower than as at 30 June 2003, with debt levels
marginally higher than as at 30 June 2003. However cash should increase
substantially in 2004 as the above deals are concluded.


During the second half of 2003, the company signed several new product
collaboration deals. Announced today is a further technology licence deal in the
pulmonary area that was signed with GlaxoSmithKline at the end of 2003. However,
discussions to finalise the major deals that we had expected to be concluded by
31 December remain ongoing. A signed term sheet is in place for one transaction,
which we would anticipate closing within the next few weeks. In addition one of
our pipeline products, due to be filed for approval with the FDA in March, is
currently under advanced review by several potential licensees. Our largest
licensing opportunity is a package of products in the pulmonary field, for which
we are also in advanced discussions with a number of parties. A major clinical
study published in November suggests a substantial increase in the potential
commercial value of the bronchodilator formoterol, both alone and in combination
with an inhaled steroid. Our own combination with the steroid fluticasone is
making very satisfactory progress in clinical development, with a Phase I trial
now completed. We believe that these factors have significantly raised the value
of our inhaled product range and support our stance that the Company should
refrain from entering any collaboration that undervalues this part of our
product pipeline. The Company is so convinced of the potential value of this
particular product opportunity that we have already rejected terms including
milestones of up to $90 million and double digit royalty returns. We remain
confident that we will be able to finalise a deal with an appropriate partner in
the first quarter of 2004.


While every effort was made to bring these deals to completion on appropriate
terms by the 2003 year-end, the Company strongly believes that it is in
shareholders' best interests to conclude the best deal possible for these
critical products. Unfortunately the time required for due diligence and the
final stages of negotiations does not always accommodate the constraints imposed
by a year-end date. Indeed, this restriction has proved a significant impediment
to obtaining the deal terms we feel that our products warrant. We remain
confident that this is only a delay and expect to conclude these agreements in
early 2004.


OUTLOOK FOR 2004

Turning to the current year, we see the outlook as very positive for the
Company. Revenues and cash will be improved by the finalisation of the deals
referred to above that are currently under discussion, augmented by anticipated
milestone payments from deals agreed in prior years. As important, we expect a
further significant increase in our royalty income, which is becoming an
increasingly dominant factor in our revenues and, importantly, also in our
profits. We had already budgeted a profit for 2004 (assuming the agreements
still in negotiation were signed in 2003) and deferral of those agreements to
the current year would therefore have a correspondingly positive impact.


With the completion of the development phase of our growth, we are further
reorganising our R&D operations and some other business functions in order to
align the development base with our projected future R&D activities. Regrettably
this will mean some redundancies but we expect to emerge from this
reorganisation in a leaner and fitter form. This will involve a one-off cash
cost of approximately #3.5 million and some associated non-cash asset
write-offs. These will be taken as exceptional charges in both 2003 and 2004 as
appropriate. Thereafter shareholders should expect to see growth in operating
profits more closely aligned with the future growth in royalty income that we
expect, generated by products such as DepoMorphineTM.


Commenting on the Trading Update, Chief Executive Michael Ashton said: "We are
disappointed that we have not been able to meet the ambitious target we set
ourselves in April of revenue growth in excess of 40%. On the positive side,
royalty income should more than triple for the full year after increasing
fourfold in 2002, fulfilling our expectations. With our main royalty-earning
products Paxil(R) CR and Xatral(R) OD/UroXatral(R) likely to be joined in
2004 by Foradil(R) CertiHaler and DepoMorphineTM, we expect this gratifying
trend to continue in the current year. We cannot stress sufficiently that rising
income from royalties is the key to future sustainable profit growth for
SkyePharma. At our present stage of development, revenues and profitability are
still largely dependent on the level and timing of milestone payments, which by
their nature are very difficult to predict. While we are striving to become
consistently profitable, it would clearly not be in shareholders' best interests
to enter into new agreements with milestone payments that would produce current
profitability if those upfront payments did not reflect the value of our
investment or came at the expense of future royalty streams.


"With our increasing royalty share, the deals currently under negotiation and an
improved cost base, I am excited by the prospects for 2004.


"I can also report that the Company has been in discussion with our partner
GlaxoSmithKline over the royalty rate we receive on sales of Paxil(R)? CR. Legal
advice received by SkyePharma leads us to believe that we are entitled to a
substantial increase in the royalty rate from the date of entry of generic
paroxetine in the US market. If we are unable to reach agreement on this issue,
there is an arbitration procedure in place."


ends


A conference call on this Trading Update will be held today. Michael Ashton,
SkyePharma's Chief Executive Officer, will host the conference call. Investors
and other interested parties may access the conference call at 4:00 p.m. (GMT) /
11:00 a.m. (EST) by dialling +1 (612) 288 0337 for International callers and
(800) 230 1085 for US callers.


A replay will be available shortly after the conclusion of the conference call
by dialling +1 (320) 365 3844 for International callers and (800) 475 6701 in
the US and entering Access Code 716063.


The Company intends to publish its full-year results for 2003 at the end of
March.


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 nine approved products incorporating three of
SkyePharma's five technologies in the areas of oral, injectable, inhaled and
topical delivery, supported by advanced solubilisation capabilities. For more
information, visit www.skyepharma.com.


Except for the historical information herein, the matters discussed in this news
release include forward-looking statements that may involve a number of risks
and uncertainties. Actual results may vary significantly based upon a number of
factors, which are described in SkyePharma's 20-F and other documents on file
with the SEC. These include without limitation risks in obtaining and
maintaining regulatory approval for existing, new or expanded indications for
its products, other regulatory risks, risks relating to SkyePharma's ability to
manufacture pharmaceutical products on a large scale, risks that customer
inventory will be greater than previously thought, risks concerning SkyePharma's
ability to manage growth, market a pharmaceutical product on a large scale and
integrate and manage an internal sales and marketing organization and maintain
or expand sales and market share for its products, risks relating to the ability
to ensure regulatory compliance, risks related to the research, development and
regulatory approval of new pharmaceutical products, risks related to research
and development costs and capabilities, market acceptance of and continuing
demand for SkyePharma's products and the impact of increased competition, risks
associated with anticipated top and bottom line growth and the possibility that
upside potential will not be achieved, competitive products and pricing, and
risks associated with the ownership and use of intellectual property rights.
There can be no certainty that agreement in respect of the additional royalty
for Paxil(R)? CR claimed by the company will be reached with GlaxoSmithKline, or
that SkyePharma will succeed in the arbitration process or that an increased
royalty will be paid. SkyePharma undertakes no obligation to revise or update
any such forward-looking statement to reflect events or circumstances after the
date of this release.


For further information please contact:
SkyePharma PLC +44 207 491 1777
Michael Ashton, Chief Executive Officer
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

I topped up with these today but sadly missed the best prices in the dip.

The news which followed the trading statement but not seen RNS or AFX should guarantee a move back towards 75p


GlaxoSmithKline Licenses SkyePharma Formulation Technology for Respiratory Drugs

LONDON, Jan. 5 -- SkyePharma PLC (Nasdaq: SKYE; LSE: SKP) today announced a licence agreement with GlaxoSmithKline (LSE/NYSE: GSK) to provide access to one of SkyePharma's proprietary formulation technologies for application to the delivery of respiratory drugs either by breath-actuated dry-powder inhaler or by metered-dose aerosol inhaler. The agreement was signed at the end of 2003 and GSK made an initial payment to SkyePharma on signature. If the patented formulation technology is subsequently incorporated into current or future products by GSK, SkyePharma will also be entitled to an additional payment for each such product and a royalty on eventual sales.

Michael Ashton, chief executive of SkyePharma, said: "Following hard on the heels of the recent FDA "approvable" letter for the Foradil(R) CertiHaler(TM) that we co-developed with Novartis and a subsequent second agreement with Novartis to jointly develop a dry-powder inhaler version of QAB149, a novel long-acting bronchodilator, this new agreement with the acknowledged leader in the respiratory field provides further endorsement of SkyePharma's technology leadership in the important and fast-growing pulmonary delivery market."


Fly by Night

Red

I'm with you, Red. Keep the faith eh? It was good to see you on sat.

Skp will come good...eventually....

anybody out there?. Bought into these last week at 69.

Yeah theres a few of us long suffering holders out here. Strap yourself in this one tends to be a rocky ride. If you have researched it well you will be aware of the following:

Ashton steps down as chief exec in March/April when the full yr results are announced (well received by the city).

SKP have a history of disappointing, making statements that they then don't keep - there was supposed to be three announcements prior to dec 31st - only one came hence the disappointing trading statement. The other two announcements need to include the licensing agreement for Depomorphine for Europe.

They still have a large reliance on milestone payments which tends to make both cashflow and profit very lumpy.

Paxil CR, the drug Glaxo produce via SKP delivery system is starting to suffer against the generic competition (sales down 40% in Q4 last year) which make future announcements even more needed than before.

There is a large seller in the market, a former director who is still selling off his shares, and he tends to sell on any peak. This and the fact that the company is seen as a jam tomorrow company and the share price needs a strong trading statement to see significant rises.

Fidelity have slowly been building up a stake recently and now hold 16% of the company

Personally I am a long term holder who believes these will finally take off when the Depomorphine announcement comes and the revenues start to smooth. The company has a lot of good products, a good pipeline and has been touted as a takeover target many times. This will come good, though it may still be a little while away (depending on the results end of march).

Let us know your views

I have been in and out twice and am back again at 69 looking to an upturn when Ashton goes.

I got in 2day at 67.5

Some big hefty buys going thru, Any one know whats going on?

Azhar,

hisorically the main big buyer of this stock is Fidelity - they have built up a stake of about 15% over the last six months - if it is them we will get an RNS. If not I would expect it is just private investors. This stock goes through large patches of heavy buying and selling, partly due to fidelity building a stake and partly due to an ex director who is still selling in large chunks.
Don't know if either explain today but worth bearing in mind with this stock.

If neither of these, we can dream and hope someone knows that the Depomorphine announcement is imminent and they are buying in advance of the official notification. More likely is people building up positions in advance of the annual results at end March.

Skyepharma PLC
25 February 2004


For Immediate Release 25 February 2004



SkyePharma PLC



PAXIL CR(TM) RECEIVES FDA APPROVAL

FOR ADDITIONAL INDICATION



LONDON, UK, 25 February 2004 -- SkyePharma PLC (Nasdaq: SKYE; LSE: SKP) welcomes
yesterday's announcement by its partner GlaxoSmithKline that the US Food & Drug
Administration ('FDA') has approved an additional therapeutic application for
Paxil CR(TM) (paroxetine hydrochloride Controlled Release) for the intermittent
treatment of premenstrual dysphoric disorder ('PMDD'). Paxil(R) is a leading
selective serotonin reuptake inhibitor ('SSRI') antidepressant and Paxil CR(TM)
is already on the market in the US for the treatment of depression, panic
disorder, social anxiety and for the continuous treatment of PMDD. SkyePharma
developed the controlled release formulation used in Paxil CR(TM) and receives a
royalty on GlaxoSmithKline's sales.



Michael Ashton, SkyePharma's chief executive officer, commented: 'Paxil CR(TM) is
currently our leading source of royalty income. According to IMS market data,
Paxil CR(TM) today accounts for about one in twelve new US prescriptions for SSRI
antidepressants. The intermittent PMDD indication for Paxil CR(TM) should expand
the market opportunity for the product since the original version of Paxil(R)
was never approved for the PMDD indication.''



PMDD is a condition that affects about 5% of menstruating women and is
characterised by severe and disabling mood swings and physical symptoms around
the end of the menstrual cycle. With the new intermittent dosing option, women
suffering from PMDD can take Paxil CR(TM) once a day during the two week period
prior to the onset of their menstrual cycle rather than throughout the month.



In Paxil CR(TM) GlaxoSmithKline's SSRI antidepressant Paxil(R) was reformulated
using SkyePharma's Geomatrix(TM) oral drug delivery technology in which a
multi-layered tablet controls the rate of dissolution and site of absorption of
the drug in the body. Clinical studies have demonstrated that Paxil CR(TM)
significantly reduces the incidence of nausea, a common and troublesome early
side-effect that results in poor compliance with many SSRI antidepressants. The
low drop-out rate for patients on Paxil CR(TM) may increase the likelihood that
patients will obtain the full therapeutic benefit. For example, a study
published in the February 2004 issue of the Journal of Clinical Psychiatry on
the use of Paxil CR(TM) in treating social anxiety disorder showed that about
three times as many patients taking Paxil CR(TM) achieved remission compared with
placebo. In addition, the drop-out rate due to adverse events such as sexual
dysfunction was low and comparable to the placebo level.



GlaxoSmithKline launched Paxil CR(TM) in the USA in April 2002. The FDA has
already approved Paxil CR(TM) for the treatment of major depressive disorder,
panic disorder and social anxiety and for the continuous treatment of PMDD.
Paxil CR(TM) offers flexible dosing and is available in three different dosing
strengths: 12.5 mg, 25 mg and 37.5 mg. In 2003, US sales of Paxil(R) and Paxil
CR(TM) were 1.2 billion (US$1.9 billion). SkyePharma receives ongoing royalty
payments on GlaxoSmithKline's net sales of Paxil CR(TM).

Skyepharma PLC
02 March 2004


For Immediate Release 2 March 2004

SkyePharma PLC

Sanofi-Synthelabo begins marketing Uroxatral(R)
to US primary care physicians



LONDON, UK, 2 March 2004 -- SkyePharma PLC (Nasdaq: SKYE; LSE: SKP) welcomes
yesterday's announcement by its partner Sanofi-Synthelabo that it is to begin
marketing Uroxatral(R) (alfuzosin hydrochloride extended-release tablets), a
treatment for benign prostatic hyperplasia ('BPH'), directly to primary care
physicians ('PCPs') in the United States.



The 10 mg once-daily extended-release formulation was developed for
Sanofi-Synthelabo by SkyePharma and involves SkyePharma's proprietary
GeoMatrixTM oral controlled-release delivery technology. SkyePharma receives a
royalty on Sanofi-Synthelabo's global sales of the once-daily formulation of
alfuzosin (known as Xatral(R) OD outside the USA). Uroxatral(R) was approved
by the US Food & Drug Administration ('FDA') in July 2003. Since its November
launch, Sanofi-Synthelabo has focused on specialist urologists. Marketing to
PCPs will involve a considerable expansion in Sanofi-Synthelabo's detail force
for the product.



Michael Ashton, SkyePharma's Chief Executive, said: 'The US launch of
Uroxatral(R) in November was an important milestone for our GeomatrixTM drug
delivery technology. Initial progress with specialist urologists has been
encouraging and we anticipate a substantial increase in sales now that the
product is to be marketed to the wider general practitioner market. The ageing
population is driving an increase in the incidence of BPH, already a common
condition. Alfuzosin is an effective treatment with a low incidence of
side-effects and the once-daily formulation we developed for Sanofi-Synthelabo
has enabled a significant increase in the market share of Xatral(R) outside the
US. Rising royalty income from Xatral(R) OD and Uroxatral(R) will be a key
part of moving SkyePharma closer to its goal of having the greater proportion of
our earnings derived from product-related revenues.'



BPH (also known as benign prostatic hypertrophy) is a common chronic condition
that typically first affects males in middle age. Thereafter the incidence rises
steeply with age. The urinary symptoms of BPH affect 22% of men aged 50-59 but
45% of men aged 70-80. Currently 8 million men in the USA are affected. Gradual
enlargement of the prostate gland causes progressive obstruction of the urethra.
Patients feel the need for frequent micturition but this results in incomplete
emptying of the bladder. Left untreated, the symptoms may progress, which can
lead to serious health problems including urinary tract infections, bladder and
kidney damage, bladder stones, incontinence and acute urinary retention.



Alfuzosin is not a primary treatment for enlarged prostate but addresses the
urinary symptoms by selectively blocking alpha-1 adrenergic receptors in smooth
muscle of the urinary tract, causing smooth muscle in the bladder neck and
prostate to relax and thereby improving urine flow. Extensive clinical studies
conducted by Sanofi-Synthelabo have demonstrated that alfuzosin has a high
degree of selectivity for urinary tract smooth muscle, resulting in a low
incidence of vasodilatory side-effects such as postural hypotension and syncope
(fainting) that can affect patients treated with competing alpha blockers that
are less selective. In addition alfuzosin has a low risk of sexual side-effects
whereas erectile dysfunction and ejaculatory disorders are well-recognized
side-effects of competing alpha-blockers (and also of alternative treatments for
BPH). Alfuzosin has recently been approved in Europe for a second related
indication, acute urinary retention, and is in late-stage clinical trials for a
US filing for this indication. Alfuzosin is the only alpha-1 blocker that has
been shown in clinical trials to result in a significant decrease in post-void
residual urine volume, a known risk factor for acute urinary retention.



IMS estimates that the US market for treatments for BPH is currently in excess
of US$1.0 billion, two-thirds of which comes from sales of alpha-blockers. The
increase in the average age of the population as the post-war 'Baby Boom'
reaches middle age is expected to drive a significant increase in both the
prevalence of the condition and the size of the market. A 2002 analysis by Theta
Reports estimated that by 2006 approximately 115 million men in the 50+ age
bracket worldwide will suffer from BPH and that even though BPH is not
life-threatening, the rising incidence will drive the value of the global market
to nearly $10 billion.



Sanofi-Synthelabo has marketed alfuzosin as Xatral(R) outside the USA since
1988. Xatral(R) was initially introduced as a three times a day formulation and
subsequently a twice-daily formulation was marketed. Xatral(R) OD, the once a
day formulation developed by SkyePharma for Sanofi-Synthelabo, was launched in
Europe in April 2000 and is now on the market throughout Europe and in certain
territories in Africa, the Middle East, Asia, Latin America and Canada. In 2003,
Sanofi-Synthelabo's global sales of Xatral(R) in all forms were 222 million
including US sales of Uroxatral(R) of 9 million (US$11 million). No version of
Xatral(R) had been marketed in the USA before the introduction of Uroxatral(R)
in November 2003.

Azhar,

These announcements worry me slightly - SKP promised three announcements at xmas time, and it appears we have now had them and they are relatively all very small deals compared to the one that was hoped for - the Depomorphine license. Hopefully they are saving that for the annual results which are due out in 3/4 weeks time but I am concerned that annual results day is going to be disappointment again. i am still holding for the long term because the announcement has got to come, this company will come good, but until we get a big announcement, the delay is weighing heavily on the share price and affecting peoples views of how the company is managed IMHO.

Any views?

I have been in for years Adding when low, I am beginning to think this stock is
(Pie In The Sky When You Die)

Driver

likewise - been in for years adding several times. the last announcement has bought them another month - the reults have to be released by 29th April (on the 120 day rule) and they desperately want to announce the 3 contracts at the same time. I am holding until further news but will sell on results if the contracts aren't forthcoming.

I wont be selling, they have got dozens of products in R&D surely some must come good, also a couple of brokers have a 3.50 target on this stock over the next two years or so.

Difficult to understand above consternation, I too have been in and out of skp for about 6 years now, buying at or about 56 to 62 and selling ca 72 - 85 isn't that what its all about?

Well we've now got the first deal of the three. SKP announced this morning the deal for Depomorphine in Europe with Medeus. On the surface looks like they've done well - 100m euros + in milestones (including an upfront payment) and then 35-50% of future sales. Lets hope the other two deals are as good as this one (and announced prior to 29th April)

Consternation, you must have looked that one up jainsworth
Your kangaroo trading is OK but one day you might go to jump back on board and find the train has long gone, or you might be on board and get of at the wrong stop. Consternation to think of how much commission you pay.
P.S SKP could have done better than the 5m upfront payment they got.

Some good news for a change
LONDON (AFX) - Skyepharma PLC and Endo Pharmaceuticals announced that the US
Food & Drug Administration (FDA) has approved SkyePharma''s new drug application
for DepoDur for the treatment of pain following major surgery.

Previously referred to as DepoMorphine, DepoDur is a novel single dose
sustained-release injectable formulation of morphine.

Driver

Cracking news and a good reaction from the market. Glad I topped up at 52p last week. If we could just get the pulmonary deal in the next few weeks this could really take off. We should now start to see some forecasts for this year as the picture becomes clearer.

any thoughts price wise on this skyepharma big jump yesterday,slight fall today as to a buying in point,,,0.60 seems good to me at to it falling back to this point,doubtful. any views on price 12/months from now,seems a lot hinges on this deal ,,people are talking about ,with the yanks.

This share as well as future deals is a take over target, any price below 65p is a good price to buy in.

DRIVER,AS WITH A LOT OF THESE TYPE,, ITS ALL IN THE FUTURE,LETS HOPE THIS HAS A BRIGHT ONE?

Dave

I have held SKP shares for nearly four years now. If buying in, be under no illusion that this has always been a jam tomorrow company and has a track record of disappointing the city. Subsequently it (and its management) now has a very poor reputation. Also, historically most of its revenue has come from milestone payments which has led to a very lumpy profit performance over the years making it very difficult to value the future prospects of the company.

The products/drug pipeline are very strong but over recent times the management has been struggling to deliver these products to the markets.

At the end of the financial year 2003, SKye made its maiden profit and promised profit going forward. Prior to this yr end, it announced that there were 3 large deals in the pipeline which would be signed by the year end. Early Jan, they announced they were still working on the deals but they would be announced within the results. In April they released the results, having only announced one of the three deals. Last week they announced the second deal and also the FDA approval of Depomorphine.

The share price had dropped back to 50p and surged to 70p yesterday before falling back to 62p.

In the background, Ian Gowrie Smith the chairman who created the company stood down at the annual results, but Chief Exec Michael Ashton has been viewed as on borrowed time for a long time (he was in shares mags 10 bosses we want fired). Also, Dr Gonella who holds a vast quantity of stock has been selling into the rises over the past 18 months or so. He still holds in the region of 40m shares at the last count.

The outstanding deal is for a package of pulmonary products and is believed to be the biggest of the three deals. They admitted to turning down a deal late last year which had $90m up front milestone plus royalty payments, because this deal seriously undervalued the product. They are currently in due diligence with a partner for this package.

they are also trying to renogiate the terms of the deal with Glaxo for Paxil CR, looking for an increased share of the revenues. they also have a very long product pipeline at various stages of development.

the likelihood of a takeover in my opinion is not as high as often muted. the main reason for me thinking this is that they have several deals with a variety of pharma partners and a fair deal of this would need to be unravelled if they were taken over.

the short term looks very positive. Personally I sold half my holding yesterday at 68.5p and am looking to buy back in, hopefully below 60p. The pulomanry deal will be very positive for the share price.

Once this deal is signed, it will then be clearer as to a profit forecast for this and next year - these do not currently exist as the company refused to issue guidelines until the deals had been signed (learning from previous failures of promising the earth).

In the long term this is a winner, but in the short term is very volatile and has been a short term traders stock for quite a while. the pipeline is strong, the deals are starting to come through. However, they still need to convince the city of their ability to run the company successfully and deliver repeatable profits before it will achieve the rating its pipeline will eventually merit.

Over 2/3 years it is possible to see these shares at 2 or even 3, though a lot of investors have been saying that for the last 5 years. IMHO it will come good, and it could currently be on the verge of a re-rating if they can win the city round, but it will continue to be volatile in the short term. If buying in DYOR!!!!! and be prepared to wait.

cheers fundy,,i`ll look in to it,,its not something that i would normally select,i didnt think it had been around that long. i no theres been a lot of intrest in this from brokers,in the last 12/18 months but there seems more to this than meets the eye. i`ve followed this share recently,,say about 12 months
it first caught my eye when there antidepressant PAXIL was first mooted, if i remember the price then is roughly the same as the price now.lots of up beat news,if the price falls to levels of about 0.60 i`ll buy and wait, regards dave , cheers for the info.. ps i`am off to hunt in the loft theres about 5 years shares mags ,,investors chronicle up there.......

Gowrie-Smith`s departure may well be the start of good news that the city will enjoy - target 90p by end of year.

Oakapples

Personally think your target is achievable but I feel we will now drift sideways until the pulmonary deal is finally signed. When that will be who knows with SKPs track record but should be within the next three months imho. This deal will enable people to sensibly forecast this yr and next and we should start to see this value reflected in the shareprice. Until then still jam tomorrow as far as the city is concerned.

A non executive director increasing his holding by 50% cant do any harm !!

Interesting webcast with Michael Ashton on rival site this pm.

My take on it was as follows:

the pulmonary deal is still in due diligence but it will happen, its just a case of who and when

emphasis on moving away from milestone payments to royalties

the company are more likely to be acquisitive than acquired

+ve opportunities for the long term in Japan (esp Pulmonary products)

Still in discussions with Glaxo re: Paxil CR royalties

To me it was a very positive interview!

Any news on this stock are we still waiting for a deal.

Still waiting whilst the share price is now below where it was for the first 2 announcements! Appears a lot of those who subscribed to the recent bond issue have sold their shares to purchase the bonds creating the recent stock overhang. News of the pulmonay deal cant come quick enough though with SKPs track record dont hold your breath - its over a year now since the pulmonary deal was first mentioned!!! Could go even lower on half year results in sept which will show losses unless the deal comes before or at the same time!

Morning all holders and whats with this skp,there is not much interest in it ,even at this level,what level will it take to bring the people back,, below 50 ??.
In a market that is on the way up,in the last few months/skp is on the way down,does that say it all ??

Why the drop on massive turnover (no rns)? On many peoples watchlist for 2005.

Kivver

the 15m trade was placed into the market at 7% below close and this dragged the price right down. Many rumours doing the rounds as to what the trade was (and the one for 2.6m soon after) though most likely is that DKW were involved on one side of the trade, and imho a hedge fund shorting on the other

">

A friend of mine has every penny he has tied up in this stock and is convinved it's going North, he's also trying to talk me into diving in - I haven't a clue where it's going but the chart to my untutored eye doesn't look too good. Interesting but not a raving buy.

There was a 15m trade on friday but if some one sold, some one has to buy

I am still holding and still waiting and waiting and waiting.

driver////you are not alone ///

Likewise

We may be doomed but at least we can all go down together. It makes failure so much more convivial. Anyway, at least the sp is not following the main market -for that we should be grateful. But when will some positive news emerge????????

I am here too - lots of good write ups - shares mag etc. Looking for 85p ( so am I!!)

Sharp sp drop "Why" any one?

Cant find anything - but nearly 14% drop means some are in the know - GSK may be behind it. I will buy again to-morrow - if the price is right !

GSK says FDA halts distribution of Paxil CR due to manufacturing issues- News just out.

From another site:

U.S. Marshals Seize Lots of GlaxoSmithKline's Paxil CR and Avandamet Tablets Because of Continuing Good Manufacturing Practice Violations
In a response to ongoing concerns about manufacturing quality, the Food and Drug Administration (FDA) and the Department of Justice today initiated seizures of Paxil CR and Avandamet tablets manufactured by GlaxoSmithKline, Inc. (GSK). Manufacturing practices for the two drugs, approved to treat depression and panic disorder (Paxil CR) and Type II Diabetes (Avandamet), failed to meet the standards laid out by FDA that ensure product safety, strength, quality and purity.

"FDA and the Department of Justice will not allow drug manufacturers to ignore our high public health standards for drug manufacturing," said John M. Taylor, FDA Associate Commissioner for Regulatory Affairs. "Once we discover a company is not following the standards, which were created to ensure safety and quality, we expect them to correct the deficiencies in an expedited manner. American consumers deserve the best health care products on the market today, and companies that are not adhering to these standards cannot assure FDA and American consumers of the quality of their products."

FDA is not aware of any harm to consumers by the products subject to this seizure and it does not believe that these products pose a significant health hazard to consumers. Consequently, FDA urges patients who use these two drugs to continue taking their tablets and to talk with their health care provider about possible alternative products for use until the manufacturing problems have been corrected. FDA has determined that neither product is medically necessary and that alternative products are available for consumer use.

The agency is concerned that GSK's violation of manufacturing standards may have resulted in the production of poor quality drug products that could potentially pose risks to consumers. Among the violations noted during FDA's latest inspection was the finding that the Paxil CR tablets could split apart and patients could receive a portion of the tablets that lacks any active ingredient, or alternatively a portion that contains active ingredient and does not have the intended controlled-release effect. Additionally, FDA found that some Avandamet tablets did not have an accurate dose of rosiglitazone, an active ingredient in this product.

The seizures follow warrants issued by the U.S. District Courts for the District of Puerto Rico and the Eastern District of Tennessee. The seizures were executed today by the U.S. Marshals Service at GSK's Cidra, Puerto Rico manufacturing facility, its Knoxville, Tennessee distribution facility, and a Puerto Rico distribution facility. GSK has voluntarily recalled some of the affected lots of Paxil CR and Avandamet; however, it has failed to recall all affected lots of these products. This failure on the part of GSK resulted in today's seizures by federal authorities.

I don't hold SKP

2Richard2
Thanks for that sounds like a lot of hot air to me GSK will properly end up suing the federal authorities looks like may be a buy for skp on Monday morning.

Skyepharma PLC
04 March 2005


For Immediate Release 4 March 2005


SkyePharma PLC

PAXIL CR CLARIFICATION

LONDON, UK, 4 March 2005 -- SkyePharma PLC (Nasdaq: SKYE; LSE: SKP) notes the
announcement today by GlaxoSmithKline ('GSK') concerning the halting of the US
distribution of Paxil CR, a treatment for depression and several anxiety
disorders. GSK stated that the halt in distribution results from manufacturing
issues which do not pose a health risk to patients. The FDA is advising that
patients taking Paxil CR should continue taking their tablets and talk with
their healthcare provider if they have questions. GSK is working with the FDA to
resolve these issues as quickly as possible.

SkyePharma provided the formulation of Paxil CR, but has no involvement in its
manufacturing.

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 ten 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

Fundamentalist
Thanks for that, panic selling at the end of the day there was no need it went down 11% more than GSK .

Driver

ultimately, Paxil CR is a larger part of SKPs business than it is GSKs (
approx 40% of royalty revenue without checking) - however, the problem is clearly at GSKs end - i was lucky seeing the news early and nicked 20 points out of shorting GSK - then bought back into SKP at 52.5p. Have held shares in the ISA for approx 3 yrs i sold my trading batch a few weeks ago at mid 60s. Monday could be a rocky day - depends on how the weekend press report it, but ultimately think the price will bounce from here prior to results. Then its down to management to finally deliver on the pipeline products, predominantly the pulmonary products

currently trading at the equivalent of 54.25p in the US

Fundamentalist
I have held these for years, normally buying on the dips as low as 44p this is just another one of those many dips.

SkyePharma suffers a 50m hit

Neil Hume
Saturday March 5, 2005
The Guardian

Around 50m was wiped off the market value of drug delivery group SkyePharma yesterday afternoon after the US food and drug administration seized a batch of GlaxoSmithKline's Paxil CR drug because of concerns over manufacturing quality.
SkyePharma designed the technology behind Paxil CR, an extended release version of the antidepressant, which generated international sales of 196m for GSK during the first six months of 2004.

SkyePharma is thought to make a 3% royalty on every Paxil CR pill sold. While the company has yet to report 2004 figures, analysts expect royalty income from the drug to total around 12m.

All of which led them to believe that yesterday's fall has been an overreaction. They also noted that SkyePharma had nothing to do with the manufacturing of the drug - a point the company later confirmed in a statement to the stock exchange.

However, the City was in no mood to listen yesterday, and SkyePharma shares fell 8.25p to 52p - the biggest drop by some distance in the FTSE 250.

AND:

7619


http://money.cnn.com/2005/03/04/news/fortune500/fda_glaxo.reut/
A spokesman for Glaxo in London said it was too early to assess the financial impact of the seizures.

Glaxo (Research) shares edged lower in after-hours trading from their closing price at $48.91 on the New York Stock Exchange.

Shares of SkyePharma PLC, a drug delivery specialist that developed the controlled-release technology in Paxil CR, ended off 13.7 percent at 52 pence in London. SkyePharma receives a low single-digit percentage royalty on sales of Paxil CR.

Supply shortage foreseen
Glaxo said it was working to resolve manufacturing problems as quickly as possible but said both drugs would be in short supply in the United States in the short term.

The seizures were executed by the U.S. Marshals Service at GlaxoSmithKline's Cidra, Puerto Rico manufacturing facility, and a distribution facility in Knoxville, Tenn., the FDA said.

There have been FDA inspections for some time at the Cidra plant, as Glaxo highlighted when it announced full-year results last month. The factory is the only source of supply of both drugs for the U.S. market.

The facility also makes a number of other medicines, including heart failure treatment Coreg, but the spokesman said they were not affected by the move and the FDA was not investigating other product lines.

The European Medicines Agency said European officials would soon inspect Glaxo's Puerto Rico factory.

Mike Ward, an industry analyst with Code Securities in London, said investors were clearly jolted by the news but he took comfort from the fact that no harm appeared to have been done to consumers.

"Market-makers in the stock are obviously worried but, as far as we can tell, there is no problem with any patients having suffered," he said.

"there is no problem with any patients having suffered," he said".

No but they are going to suffer now with out there pills.

sunday press articles

International Markets:

Market over reacts to Paxil jitters

Shares in Skyepharma (LSE: SKP) plunged more than 13% Friday after GlaxoSmithkline (LSE: GSK) announced the FDA had seized batches of its Paxil CR drug manufactured at its facility in Puerto Rico. The issue appeared to arise from a small number of the controlled release formulation pills, reported to be as few as 8 per million pills manufactured, cracking such that the controlled release characteristics of the pills could not be guaranteed. The FDA and GSK had been aware of these issues for some months, yet GSK had failed to recall all the affected batches as had been requested by the FDA, and thus the FDA acted to seize batches to stop further distribution of the drug. GSK indicated that this could cause a shortage of the drug in the short term, although there were no safety issues with patients continuing to use supplies of the drug they already had. Analysts concluded that as no safety issues had been identified, the problem appearing to be a relatively easy to rectify manufacturing issue, that Paxil CR would be back on the market in the US soon. GSK and FDA confirmed they were working hard together to ensure that was the case. Even though the pharma industry is currently sensitive to perceived 'bad news' post Vioxx withdrawal and other recent issues, the reaction of Skyepharma's shareprice was seen as an over-reaction by analysts as the bulk of Skye's current value relates to higher value double digit royalty deals on drugs such as Depodur, a controlled release formulation of morphine, rather than the low single digit royalties it receives from GSK on sales of Paxil CR. It was also noted that Skye may be entitled to compensation from GSK for any loss of Paxil CR royalties it might otherwise receive.


from The Sunday Times

http://www.timesonline.co.uk/article/0,,2095-1512500,00.html


Puerto Rico plant causes Glaxo pain
A MANUFACTURING plant in Puerto Rico is the source of the problems that have given Glaxo Smith Kline a splitting headache, writes Paul Durman.
Shares in the drugs giant, which reached a 15-month high on Thursday, slid on Friday when the powerful US Food and Drugs Administration seized millions of tablets of Paxil CR, a top-selling anti-depressant, and Avandamet, a diabetes treatment.

The FDA is concerned that some Paxil tablets are splitting in half, with one part containing the active ingredient and the other the chemical that controls its release. It fears such poor-quality pills could pose risks to patients.

Glaxo said yesterday: We are pressing to see the FDA as quickly as possible. The company said only eight in 1m tablets were affected.

However, the FDA has had concerns about manufacturing at the plant for at least two years. It also produces the Avandia diabetes therapy and Coreg, a heart medicine for Glaxo. The firm said production of these was unaffected.

The seizure is also bad news for SkyePharma, which supplies the control-release technology used in Paxil CR.

At least some instituions are still buying:

Skyepharma PLC
08 March 2005


For Immediate Release 8 March 2005





SkyePharma PLC ('the Company')

Notification of Major Interest in Shares



In accordance with the Companies Act 1985 (as amended) the Company was informed
on 7th March 2005 that following a series of market making transactions on 4th
March 2005 by Dresdner Kleinwort Wasserstein Securities Limited ('DrKWSL'),
Allianz AG and its subsidiaries, which include DrKWSL, had increased their
notifiable interest to 40,577,590 Ordinary Shares, representing 6.5% of the
issued share capital of the Company. These Ordinary Shares are registered in the
name of DrKWS Nominees Limited.
.

WHy is this falling in the USA on daily basis?

Because they have promised and not delivered (also unfortunate FDA intervention in closing the GSK factory that manufactures Paxil, and the Astralis failure).

Thanks. They were supposed to be profitable by now. Are they?
Can it fall further?

They are certainly not profitable - the question is how much they have lost (apart from total loss of management credibility). Can they fall further? Name a price.

Hightech

recent guidance (recent for SKP anyway!) prior to xmas was that fy profit was dependent on certain deals, including the pulmonary product being signed and FDA approval of foradil. On the basis that these havent happened, and it looks like they are dragging results out fully on the 120 day rule on the hope of having some good news to announce to soften the blow, i am expecting a rather hefty loss again this year - somewhere in the region of 30-40m.

there is still a lot of potential good news in the pipeline, however, there is now the real danger of one or both of the pulmonary deal falling through completely and/or the need to raise further finances via a rights issue. i am resigned to a large loss when the results are released, more critical to me will be the cash position a long with long overdue updates on expected deals - if i am right due diligence on D3 had been going on for nearly 18 mths whereas what due diligence did SKP do when they bought Astralis shares from directors which have subsequently lost nearly 90% of their value in a very short space of time. also of interest will be what they are doing to recover lost revenues from glaxo re: their inability to manufacture it properly

the recent management of this company, and complete disrespect of shareholders, is starting to wear the patience of a lot of investors and there is likely to be fireworks at the AGM, with pressure being put on Ashton to resign. on a communication front they have gone from completely overpromising to refusing to update shareholders/the market except for at results time or when partners release statements that affect SKP.

also of interest is the current crest data which shows an almost all time high on the number of shares out on loan as well as a couple of market makers having notifiable holdings.

i expect that results day will see quite a large movement in share price and unless they finally deliver a couple of the outstanding deals and the cash position is still sufficent to provide the required working capital, i expect this movement is likely to be down. imho in the worst case scenario if there is a 40m loss, a rights issue and no deals signed the price could go as low as 30p

fwiw i still hold a much reduced level of holding, which amazingly are still in profit - however, if nothing has been announced by friday 15th april, i will be selling these and sitting on the sidelines until the results are announced at which stage i may rebuy.

Having said all that, i still have a lot of belief in the pipeline and the future potential for the company, however, i have completely lost faith in the current management. there is also the small chance that they may be taken out (not holding my breath)

all imho dyor etc etc

Fundamentalist
Good post I finely got shot of these last week after many years and a lot of averaging down at the end I was at a small lose, after reinvesting (ert) I am now in profit. I agree with what you say, a lot in the pipeline and the future potential for the company, and one day I'm sure this stock will be 300p but its the same old story again and again loss, loss wider, no profit, not yet, No Divi
I am on the sidelines now watching and waiting.

Its not looking to good at this momment 50 is it a gamble,,you bet it is.

DD

Annual results are out tomorrow and are not going to be pretty - be a very brave man buying in today

Agreed Fund but someone is brave - in fact, if you look at the trades it is more than likely that most of the "unknowns" are buys. A few buyers buying big, and a large number of sells generally selling smallish amounts.

Fundy they say the bad news is in the price,of late its been grim if your a holder but below 50 it mite be worth a long,no position as of yet.

I spoke too soon!

DD

i sold most a while back and have been looking to go back in - will see what tomorrow throws up before making my decision - key things im looking for:

D3 - updated guidance (ive given up hope theyll announce it)
cash position - is a rights issue on the horizon as they run out of cash?
Foradil update
Paxil/GSK update - when back to market/recompense/royalty rate negotiations
other pipeline announcements


dare say if there is no D3 and a rights issue then the removal of Ashton has to be next

Looks like anyone brave enough yesterday will be well rewarded!!!

LONDON, UK, April 28, 2005 - SkyePharma PLC (LSE: SKP; Nasdaq: SKYE) announces
the Company's preliminary results for the year-ended December 31, 2004.



Operating highlights

Agreement with GlaxoSmithKline for Paxil CR(TM) provides a $10 million
cash payment and a higher royalty rate and ensures royalty income received
even while Paxil CR(TM) remains off the market

Pulmonary package: Heads of Terms with major global pharma company for
Flutiform(TM) include up to $160 million in milestone payments and
reimbursement of development costs, with double digit royalties. Agreement
still subject to contract

Conditional UK marketing authorisation for DepoDur(TM)

DepoBupivacaine(TM) licensed to Mundipharma outside North America and
Japan

New agreements with Critical Therapeutics for zileuton and First
Horizon for fenofibrate

Two products expected to be launched in 2005, four products to be
filed for approval and four products to enter Phase III development



Financial highlights

Turnover up by 17% to 62.2m - excludes 5.5m of milestones received
during 2004 (2003: 53.2m)

Royalty income increased by 39% to 26.0m (2003: 18.7m)

Gross profit up 33% to 31.0m (2003: 23.4m)

Exceptional items of 3.0m (2003: 9.5m)

Operating loss before exceptionals and amortisation fell by 59% to
9.7m (2003: 23.4m)

Operating loss after exceptionals and amortisation fell by 48% to
20.7m (2003: 39.5m)

Net loss fell by 44% to 24.3m (2003: 43.2m)

Loss per share 3.9p (2003: 7.1p)

End 2004 net cash 15.3m (2003: 22.0m)



Ian Gowrie-Smith, Non-executive Chairman, said: 'A highly beneficial new
agreement with GlaxoSmithKline for Paxil CR(TM), significant advances for both
our marketed products and our pipeline and important progress on the
long-awaited pulmonary deal are the keynotes of our performance. We now have
five key products on the market generating royalty income for us, with two more
expected to be launched this year, and a well-stocked pipeline of products in
late-stage development. Recent progress on corporate agreements brings us
several powerful new partners. We face the future with confidence.'

I thought it would be priced in the recent blood bath on the sp,no position yet sub 50 for me.

I decided to hold over the results time but admit to being rather lucky - I certainly never forsaw the Paxil deal (and I even used to be involved in the legal issues surrounding international contract re-negotiation and consequential IP licensing agreements - GSK were certainly not bound to compensate SKP!). Still, its about time I was lucky.

Pach

i held some over results but had sold all my trading batch a while back - will try and get some more today

Pachandl well held you should be good at poker with that sort of decision making.

Cheers DD. Fund - presumably you are waiting for a pull-back before committing? Having said that the odds do not favour the sp going lower than 54p.

Pach

Have just bought at 54.5p - amazed that i got that price - almost slightly cautious that the rise so far has been relatively small.

Analysts meeting later and some positive press ahead. Only concern in the short term is the cash position looks a bit tight depending on the timing of some of the milestone payments due and with Bonds to be redeemed in June.

Ashton currently on CNBC (channel 510 on sky)

From Ashton:

D3 is a done deal and he expects revenue in excess of 1bn
deal is still company transforming
very bullish on the success of the paxil negotiations


Ironic - as he was presenting they have the share price at the top of the screen at 54.25p with DAY LOW flashing - lets hope that this is still true at 4.30pm

Looking good then fundy.

Thanks Fund - it looks like Ashton lives another day.

http://yahoo.reuters.com/financeQuoteCompanyNewsArticle.jhtml?duid=mtfh60376_2005-04-28_08-23-29_l28455207_newsml

BTW- Whatever SKP was receiving from GSK will be 33% increased from the 4th March. That's next week though.
SKP will also receive 10M from GSK. So we should add it to the current cash balance.

I can't help thinking that the sells are made up more of private investors and the buys with more institutions. Perhaps my analysis is not sufficiently scientific for others?

I am surprised the rise has been as small today but I have a view the sp is set for a rally off a low level. More to come tomorrow I feel..

More good news - perhaps the corner has finally been turned?

LONDON (AFX) - Skyepharma PLC said the US Food and Drug Administration ('FDA') has approved Triglide, its novel formulation of fenofibrate.

This approval will trigger a 15 mln usd milestone payment from partner First Horizon Pharmaceutical Corporation, Skyepharma said.

Skyepharma granted First Horizon exclusive US marketing and distribution rights in May 2004 for a cardiovascular product, now identified as fenofibrate IDD-P. Under this agreement, SkyePharma will receive up to 50 mln usd in milestone payments, 30 mln of which are sales-based milestone payments.

In addition SkyePharma will receive 25 pct of First Horizon's net sales of the product. SkyePharma will also make a contribution of up to 5 mln usd to First Horizon's initial marketing expenses to establish the product.

Queen1

Agreed, another piece in the jigsaw confirmed. Still the price is being held back, assume there must still be an overhang. This should really take off when the D3 is finally signed and announced

Who is selling? Why?

HT - on adv it seems that it was known about a week ago that there was a large stock overhang which needed to be cleared before sp would move northwards.

Pach

thinking aloud..

im assuming that the overhang relates to the RNS from DKW that they had increased their holding from market making activity and it is these shares that are being released into the market. alternatively it could be standard life finally unwinding their position or Dr G again???

Your guess is probably better than mine! By the way, this afternoon's Citywire Verdict states (re rns): "This is not one of these blockbuster drug stories that send share prices spiralling up one day and plummeting the next. But it should help SkyePharma shares move nearer the 70.25p highs they hit in December"

Well they're going a funny way about it as the sp is now down on the day! Thank goodness it wasn't bad news - no knowing what may have happened then!

This is not a good share to be involved in and you may well be in for some bad news shortly. My advice is to sell up ASAP!!!

Care to share any more info or just going to post a blatant deramp?

BPL

Just checked to validate youre type of post and came across this on the ramper/deramper thread:



Kivver - 15 May'05 - 10:54 - 35 of 35


Watch out for pro/informer/mrsmoneypenny/wa145te/bradpittlookalike and lots of other names, buzz lightyear/helen/informtionboard/ etc on other sites. He hasn't the guts or bottle to stick to one name and loves talking to himself (sad man). Last warning i have nothing else to say about this poster he is well and truly squelched!!


So im guessing your short rather than meaning well to help us all out.

So whats the bad news?

Forward pipeline
Recent institutional buying
Current buying at 54p which the price is being held at
The announcement of the flutiform deal
something else????

BPL

i see you post as "Manintheknow" across the way - never trust someone who cant post under the same name on different forums is my experience

Fund - yes I spotted the similarity as well. Why do people bother?

Anyway, HL's Penny Share Prophet has SKP as a buy (27/5/5) - not much to say but concludes "while there is no market consensus on current year profits, we think Skyepharma looks better than it has for some time".

brad pitt lookalike - you're a prat. Why waste your time dealing all this negativity? If you are entering the thread in good faith, as is suggested by your "helpful" comment for others to watch out for impending bad news, why not act in good faith and explain what that news is? And if you don't have any news and you're just a sad lonely individual (brad pitt lookalike - I think not) who feels important by bringing other people down, just don't bother. You're not worth it.

Just to show what a comedian this guy is he has posted the same comment on Pace (PIC) - this afer PIC went up 60% on friday.

He has certainly posted on here and advfn the same statement on SKP and PIC under 4 different aliases in total - there may well be plenty of other threads he has done the same to - Kenmare is certainly one where he has been spouting for ages.

Dont be fooled by the deramping comedian - DYOR and dont be mislead

Well said Fundamentalist.

Why are you so afraid of bad news???
Pull that wool from over your eyes which Kivver and others have put there. This share is a dog with fleas and has never been worth any attention. You should sell now before the bad news hits the fan - or your pocket will feel the pinch!!!

Another day, another alias - not afraid of bad news just get wound up by idiots postings under several aliases with blatant deramps with nothing to back it up

Again, well said Fundamentalist. wa157te - put up (i.e. share this impending news of doom to the benefit of all if you're that concerned about our welfare) or f*ck off.

From the KMR thread:

pro - 29 May'05 - 08:10 - 378 of 378


Why are you so afraid of bad news???
Pull that wool from over your eyes which Kivver and others have put there. This share is a dog with fleas and has never been worth any attention. You should sell now before the bad news hits the fan - or your pocket will feel the pinch!!!

From post 122 on this thread:

wa157te - 29 May'05 - 08:21 - 122 of 124


Why are you so afraid of bad news???
Pull that wool from over your eyes which Kivver and others have put there. This share is a dog with fleas and has never been worth any attention. You should sell now before the bad news hits the fan - or your pocket will feel the pinch!!!

Says it all really.

gav

also try CYH and PIC threads for the same post as well as similar boards on advfn

Can something not be done about this idiot by MoneyAM?

It's no good bleating on about repetitive posting. Do you expect to be able to brush the bad news under your carpet?? Let people know what a bad company this is!!!
Or I will!!!

Queen1

have emailed MAM - balls in their court

Pro - what bad news - as before your statement is completely unjustified

Bye Bye Pro, you've already had a warning and have now outstayed your welcome.

Fundy,

Just read Mr Multinames posts that you point out here and over the road. Funny how the posts are all identical apart from the posters name! I'm sure you would agree with me that if someone has a genuine bear point to make then by all means go ahead and make it. This guy has made no such case that I can see anyway, his posts are garbage. On threads where I post, I would welcome both sides of the case, even if I disagreed with an arguement. I hope MAM will look into this as surely posting under several alias's should not be allowed, whether they are bullish or bearish posts.

gavdfc

AM I believe have already issued a warning to this joker, hopefully Ian will take the correct action on Tuesday morning and remove him and his multiple personalities from the Board. All of his repetitive posts on the AXM thread were removed last week, although he has started the same old crap again.

pth

pth,

Thanks for that. Hopefully Ian can sort this out as posts such as his under various alias's add nothing at all to the site or individual threads. I'm sure we would all agree that the last thing we want is for this site to be dragged down to the quaility of a certain other site.

Cheers

Gav

There is no doubt about it -Kivver has well and truly lost the plot!!
Well how can you believe in someone who (see 'Worst Ramper Deramper Competition (RAMP)' post) admits to having multiple posting names (why the need for deception??) and who descends to ranting and raving at other posters???
I prefer to listen to balanced people who remain balanced in all situations where my investments are concerned.
And that's a fact!

Ah, the prat's back. Come on MoneyAM, get rid of this idiot.

I noticed the prat on the PIC thread....made me smile..I hope his timing is as good with all his trading.

i hope skp doesin a day the same as pic....

This should alleviate the uncertainty surrounding the July maturing convertible bonds:

RPT Skyepharma to privately place 20 mln stg of convertible bonds
AFX

LONDON (AFX) - Skyepharma PLC has signed agreements for a private
placement of 20 mln stg of new convertible bonds.

The pharmaceutical company said the funds will be used to defray corporate expenses, including the 9.8 mln stg likely to be required for the forthcoming redemption of its 6 pct convertible bond due 2005.

It will also satisfy projected use of cash for the foreseeable future, SkyePharma said.

The new convertible bonds, which have a coupon of 8.0 pct and a first put after 5 years with a final maturity of 2025, have a conversion price premium of 50 pct to the volume-weighted average share price of SkyePharma on May 27.

Michael Ashton, SkyePharma's Chief Executive, said: 'On April 28 (we) made reference to the fact that the company's working capital requirements are sensitive to the timing and receipt of milestone payments and payments received on the signing of new contracts.

'Since that date, the FDA has approved Triglide, triggering a 15 mln usd milestone payment... and we are working toward the conclusion of a definitive agreement for the licensing of our major pulmonary product Flutiform.

'In the mean time, (we) felt it was in the best interest of the company to remove any uncertainty in respect of the company's financial resources.'

tc

http://www.m2.com/m2/web/story.php/2005785B99A67EFD32C5802570590059C9A0

batteryman

any chance you can post the full article as it requires subscription access

ING has a buy rating and 80p price target for Skyepharma (Friday 12th August).

its about the share price reflected the hype! been waiting a long time.

So what's going to drive the price from 58p to 80p then in their opinion?

The pulmonary deal i expect

Just bought some drugs from this guy he sold me some SKP,i hope it does the trip.

brave man DD

Not looking for much in return 46/48 region.

Donald Nicholson bought 100,000 and the sp goes down? I may get back in on these.

HBM BioVentures purchasing.

Skyepharma PLC
18 October 2005


For immediate release 18 October 2005



SkyePharma PLC ('the Company')
Notification of Major Interest in Shares


In accordance with the Companies Act 1985 (as amended) the Company was informed
on 17th October 2005 by HBM BioVentures (Cayman) Ltd that following a series of
purchases it held a notifiable interest in 25,000,000 Ordinary shares of the
Company, representing 3.98% of the issued share capital of the Company.

Any one on these they are starting to look attractive @ 37p

SkyePharma, Maruho in marketing deal for DepoBupivacaine lin Japan
AFX


LONDON (AFX) - SkyePharma PLC said it has entered into a strategic agreement with Japan's Maruho Co Ltd for the for the development, marketing and distribution of anaesthetic DepoBupivacaine in Japan.

Maruho will pay SkyePharma up to 18 mln usd including up-front and milestone payments. Maruho will conduct at its own cost the clinical development of DepoBupivacaine required for regulatory approval in Japan.

Additionally, SkyePharma will receive a share of Maruho's sales of this product in Japan, out of which SkyePharma will bear the cost of manufacture.

DepoBupivacaine is SkyePharma's novel sustained-release injectable formulation of the local anaesthetic bupivacaine, currently widely used as a local or regional anaesthetic during surgery, either in a hospital in-patient setting or in ambulatory surgery.

newsdesk@afxnews.com

lam

Driver

followed these for the last 5 yrs or so and have been in and out many times.

Personally see no upside in the short term unless become a takeover candidate, recent performance of their drugs in production has been poor (esp Paxil Cr since the Glaxo manufacturing fiasco) and Flutiform, which was supposed to have been company transforming is now being developed in house as they failed to sign a partner for the deal, and they have got to fund Phase 3 themselves - earliest date to market will now be 2009, which may be too late. The rights issue at 30p compared to a close the previous night of 53p shows how low they had to drop it to get any backing.

That said, they do have some decent drugs and a decent pipeline which stack up well to their current mkt cap, the big problem at the moment is the current management have no ability to run a company and make a profit from these. If you are thinking of investing, read back over the last 3 yrs RNSs and you'll get a jist of the management incompetencies.

With decent management, once Ashton and Gowrie Smith are completely gone then may be a worthwhile investment but wouldnt buy in while either of these two have any remaining influence.

All IMHO DYOR NAG, good luck in whatever you decide

Fund Cheers
The post below is from this board from April, I see nothing has really changed.

driver - 06 Apr 2005 09:45 - 87 of 152
Fundamentalist
Good post I finely got shot of these last week after many years and a lot of averaging down at the end I was at a small lose, after reinvesting (ert) I am now in profit. I agree with what you say, a lot in the pipeline and the future potential for the company, and one day I'm sure this stock will be 300p but its the same old story again and again loss, loss wider, no profit, not yet, No Divi
I am on the sidelines now watching and waiting.

Driver

i bought back in after that at about 50p, sold at 46p ish on the morning of the rights issue announcement then shorted that same morning down to 39p - its a crazy share because the business has some decent fundamentals but the management is truly as bad as i have seen for a FTSE 350 company

Is that 40p i see or are these drugs playing with my mind.

No not the drugs this time Dave, seems some solid buying and this RNS today

Company Skyepharma PLC
TIDM SKP
Headline Notification of Shares
Released 14:12 07-Nov-05
Number 7448T

For Immediate release
7 November 2005

SkyePharma PLC ("the Company")

Notification of Major Interest in Shares

In accordance with the Companies Act 1985 (as amended) the Company was informed on 7 November 2005 that HBM BioVentures (Cayman) Ltd had increased their notifiable interest to 50,000,000 Ordinary Shares, representing 6.63% of the issued share capital of the Company.

fund
Still on the sidelines on this one, I will have to start following the shares you are bearish on.

WOW I agree with you "daves dazzlers" - I have just returned from a hospital appointment and thought the drugs had already kicked in! Most certainly the RNS is the type of news the City like. Me too I have just made enough from taking up the open offer at 30p to enjoy a dinner for two with a nice bottle of wine (cant quite stretch to a pudding !)

Driver

not bearish just think high risk currently whilst this mgmt is in control (i have got it in the champion investor game tho) - good to see DNX doing well today

fund
DNX is doing very well, so is my Postman Pat ERT

On the rise and with good reason. FTSE up, recovering from recent share price collapse due to institution selling and share issue, new marketing agreement. Vgood short term expectations and much moe likely. One to buy but DYOR!

More drugs DD!!!

To bloody right,,,result..

Fancy a tablet

Dump it, downward trend will continue..

You seem to be losing your case robstuff - gradual rises with no particularly recent RNS is the way I like to see things going

Interesting that Ashton was supposed to be doing the SG Cowan presentation but it is now being done by Peter Laing as Ashton has been detained in London for an important meeting - something or nothing?

Presentation is live on the website

A notorious Pump and Dump poster on Advfn is giving a short term boost that's all, expect 28 by Xmas. Switch to Oxb which is now looking bonkers undervalued.

Robstuff

If you believe Ravens thread moves share prices then you really are delusional

And as for one of your earlier posts:

robstuff - 09 Nov 2005 22:14 - 164 of 167
Dump it, downward trend will continue..

Does this not apply to OXB because that one sharp knife youre tring to catch

With the CEO being called back in to the office at the last minute, makes me wonder have Skyepharma received a bid. This meeting has been planned well in advance with the slides geared towards Michael Ashton. The company could have said he has been taken ill, but instead quote important meeting. Therefore I would not rule out a bid for the company, this would involve the major share holders and top directors being called ahead of press speculation. This is an emergency meeting and one doubts very little this has anything to do with the pulmonary D3 package. One would not be surprised to read an RNS later today or tomorrow.

As always do your own research before buying or selling shares.

SkyePharma PLC ("the Company")
Notification of Major Interest in Shares


In accordance with the Companies Act 1985 (as amended) the Company was informed
on 9 November 2005 that following the disposal of an interest in shares, the
majority of which were held for stock borrowing and lending activity, Morgan
Stanley Securities Limited ("MSSL") no longer held a notifiable interest in the
Company. MSSL is a member of the Morgan Stanley group of companies.

------

The funds on loan are being called in. This is very positive.

Is it boom time yet ?

Going well early doors.

Yes indeed.

Some large placements pre-market. Looks very attractive at the moment, good volume in a pleasant up trend, The weekend media could read interesting news regarding Skyepharma. There does not appear much resistance up to 50p once 44p has been broken. Let the trend be your companion.

As always please do your own research.

48,soon with a bit of luck,happy days.

What a day to be on these drugs !

Dave, may be needing some more of them this morning:

Skyepharma PLC
14 November 2005



FOR IMMEDIATE RELEASE 14 November 2005

SkyePharma PLC

Strategic Review

LONDON, ENGLAND, 14 November, 2005 -- SkyePharma PLC (Nasdaq: SKYE; LSE: SKP)
announces that following a recent unsolicited approach from a third party, the
Board of SkyePharma has decided to review all of its strategic options,
including inter alia offers for the company as a whole.

The Board has appointed Lehman Brothers as sole financial adviser to undertake
this review. There is no certainty that the review will result in any change to
the present ownership structure of the company. A further announcement will be
made when appropriate.

For further information please contact:

SkyePharma PLC +44 207 491 1777
Peter Laing, Director of Corporate Communications +44 7766 906626
Sandra Haughton, US Investor Relations +1 212 753 5780

Buchanan Communications +44 207 466 5000
Tim Anderson / Mark Court/ Rebecca Skye Dietrich

Top Gun Trader, you are a very smart observer. That was spot on, very astute.
I wonder who it could be though, anyway. happy trading

Fingers crossed for blue,,bloomberg,,yes.

Who said 50 !!

Nice little profit that in & out in a few weeks result.

Good Morning.

Any bid for the company would have to be in the region of 65p with assets and pipeline products. Skyepharma now have the upper hand with Flutiform which places them in a very strong negotiating position, one is very surprised to see Skyepharma trading around 50p today; no doubt this will change and move forward through out this week. It has been rumoured that Merk and Pfizer are both interested in SKPs pipeline, but no doubt we will see other big names now appear on the scene Glaxo being one of them no doubt.

Please do your own research.

This is like 0.75p in old money.

Unbelievable mis-management...look at the sp fall like it's on a skydiving TV prog.
Grief it looks bad, very bad. ... 28.5pence.
(Execs should be paid 28p in the pound, at least they'd feel some pain.)

Psst if management is awake, still - get on with something to make some Money.

Oh deary, a Director buys a few hundred shares - wowie - that's a strong signal that things are very wrong still . . . . what exactly are they doing, I wonder? This is years after their original claims to be cutting edge and shareholter return-focus.
- Humm

yeeeeeeeeeeeeeeeeeeeeeeeeeehaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaa! lol

Still holding some of these from years back.

Forgot I still had these up 114% today can't be bad.

Flutiform Positive Outcome
http://www.moneyam.com/action/news/showArticle?id=4353278

Good finish 106% not bad.

SkyePharma soars on asthma drug approval

http://www.telegraph.co.uk/finance/markets/marketreport/9217584/SkyePharma-soars-on-asthma-drug-approval.html

It was 50p about five years ago when they were talking about this. that's equal to £50 now, due to 100 to 1 split!

How much does it worth now?

ahoj

Not Much.

Driver,
But you are holding these. What do you mean?
Can it be subject of a bid given its portfolio..?

ahoj

Not much, as I am only holding a few I bottom drawed these after the consolidation and didn’t top up, if it ten bags from here I might be interested.

I had 100k before consolidation, started adding again since the report. Finger crossed.

ahoj

Good luck, have a look at RGM,s news today Massive jorc.

thanks driver. It can be fice bagger this year.

Edison Update
27 April 2012

http://www.edisoninvestmentresearch.co.uk/researchreports/Skyepharma270412update.pdf

SkyePharma Announces Successful Completion of
flutiform® Japanese Clinical Trial Programme

http://www.moneyam.com/action/news/showArticle?id=4393527

It should be 5 rather than 0.75!! IMO

European Commission Positive Decision on flutiform®
- flutiform® to be Approved in 21 Countries in Europe

I need five fold increase to recover my original money I invested 8 years ago.

Just added here, excelent results yesterday, good stock to use as an hedge against falling prices elsewhere.

Broker forecasts....

09 Oct Oriel Securities Buy 329.63 460.00 460.00 Reiterates
09 Oct N+1 Singer Corporate 329.63 - - Reiterates