UPDATE
1-SkyePh arma unveils U.S. partner for key asthma drug
Delays in finding a partner for
Flutiform, which SkyePharma believes could become a
$1-billion-a-year seller, were one of the main reasons
behind a shareholder rebellion earlier this year that
removed the drug delivery firm's previous management.
SkyePharma, which helps find
new ways of delivering drugs as well as developing its own
medicines, said on Monday it could receive up to $165
million in milestone payments under the deal with Kos,
including an upfront payment of $25 million.
It will also get a "mid-teens"
percentage royalty on sales.
SkyePharma said it remained in
talks with potential partners for European and other markets
around the world.
Its shares closed at 38-1/4
pence on Friday, valuing the business at about 309 million
pounds.
