9th Oct 2014 10:12
LONDON (Alliance News) - SkyePharma PLC Thursday said overall trading to date has continued to be in line with boardroom expectations, with revenue benefiting from higher supply sales of, and increased royalties from, its Flutiform inhaler, as well as new GlaxoSmithKline PLC inhalation products and a share of higher net sales of Exparel pain relief products.
In a statement coinciding with the oral and inhalation drug delivery company's capital markets meeting in London, Chief Executive Peter Grant said he is confident in the potential for strong growth from the eight new products approved or launched since March 2012.
The CEO also said sales momentum has continued since the company's interim results were announced in August.
"We are focused on delivering the next phase of growth through strategic investment in new products and technologies. In our inhalation business, work has begun on the development of SKP-2075, the lead product in our new anti-inflammatory therapy platform for the treatment of chronic obstructive pulmonary disease. In our oral business, we are encouraged by the progress we are making in the development of Soctec, our novel gastro-retentive drug delivery platform," Grant said.
"The group remains well-placed to leverage its rejuvenated revenue-generating product base and build a strong platform for future growth," Grant added.
SkyePharma shares were Thursday quoted up 2.8% at 326.00 pence.
By Samuel Agini; [email protected]; @samuelagini
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