News

SkyePharma says revenues showing growth

27 October 2008 12:49:00

Pharmaceutical firm Skyepharma said revenues since 1 July 2008 continue to show significant growth compared with the 2007 run rate.

The group said it is primarily driven by increases in contract research and development and increases in royalty income, following the launches of various drugs.

As anticipated, the group's expenditure on research & development is reducing as the Flutifor Phase III programme for the NDA concludes.

Administration expenses have remained in line with the run rate of the first six months of the year, it said.

The unrealised exchange gain included in net finance charges has reduced from the first half due to the strengthening of the US dollar against sterling.

"With growing revenues from across our portfolio and declining costs for the development of Flutiform?, we continue to focus on moving SkyePharma towards long term profitable growth," said CEO Ken Cunningham.

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