SkyePharma loan for Flutiform
By Salamander Davoudi
Published: December 28 2006 02:00
SkyePharma has secured a £35m loan at a punitive interest rate to complete development of Flutiform, its asthma treatment.
The company will pay 5.85 per cent above US and euro base lending rates. It is now in exclusive talks over the long-awaited sale of its injectables unit, which could be valued at up to £110m. But the prospect of a more complex risk-sharing arrangement with higher royalties could result in an initial payment of half that amount. The shares rose ½p to 27¼p.
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