25th Jun 2015 07:52
LONDON (Alliance News) - Drug development company Skyepharma PLC on Thursday said it is trading in line with its expectations for the year on the back of a good performance for its Flutiform asthma treatment.
The company's royalty and product supply revenue for Flutiform has benefited from increasing demand in the first half of 2015, and it said it has seen growth in royalties from GlaxoSmithKline PLC's Ellipta product range and from Solaraze in the US.
The company also said it expects the USD8 million sales milestone payment due to the company from Pacira, based on sales of its Exparel product, to be achieved this year.
"Skyepharma has had a good first half of the year, and we remain confident of the outlook for the full financial year. Sales of flutiform, a key value driver of the business, continue to grow and the product has been launced in four additional countries," said Peter Grant, Skyepharma's chief executive.
"The combination of further launches and product approvals continues to build momentum for the future and we look forward to this progressing thoughout 2015," he added.
Skyepharma shares were down 0.6% to 279.25 pence on Thursday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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