Respivert Contract

SKYEPHARMA ANNOUNCES SECOND INHALATION DEVELOPMENT CONTRACT WITH RESPIVERT

LONDON, UK, 11 April, 2012 - SkyePharma PLC (LSE: SKP), a leading independent developer of inhaled products and drug delivery technologies, announces that it has signed a second agreement to conduct a feasibility study with RespiVert Ltd. ("RespiVert"), a small molecule drug discovery company acquired by Janssen Biotech, Inc., in 2010 focused on developing improved treatments for patients with severe respiratory diseases.

The agreement is for a feasibility study to develop a dry powder inhaler (DPI) dosage form for a RespiVert compound and follows successful completion of a similar work programme carried out over the past 15 months on another RespiVert compound. Both projects are aimed at developing new therapeutic options for patients living with severe, chronic respiratory diseases including chronic obstructive pulmonary disease (COPD) and severe asthma.

SkyePharma's Chief Executive Officer, Peter Grant, said: "We are pleased that the excellent progress with the first feasibility project has led to this follow-on project, and we look forward to collaborating further with RespiVert to develop important new products for patients suffering from respiratory diseases. Over the past 20 years, SkyePharma has established world-class respiratory development expertise covering both metered dose and dry powder inhalation products."

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About SkyePharma

Using its multiple drug delivery technologies and expertise, SkyePharma creates enhanced versions of pharmaceutical products. The Group has eleven approved products in the areas of oral and topical delivery as well as important license and revenue-generating arrangements in inhalation and injectable technologies. The Group's products are marketed throughout the world by leading pharmaceutical companies. For more information, visit www.skyepharma.com.