Strategic Review

11 Jan 2006 11:21

Skyepharma PLC11 January 2006 For Immediate Release 11 January 2006 SkyePharma PLC (SkyePharma) Strategic Review Update LONDON, UK, 11 January 2006 -- SkyePharma PLC (LSE: SKP; Nasdaq: SKYE) announcesan update on the progress of its Strategic Review. On 17 November 2005 the Board of SkyePharma announced that following anunsolicited approach from a third party the Board had decided to review all ofits strategic options, including, inter alia, offers for the Company as a whole. On 8 December SkyePharma also announced that the Company had received a numberof expressions of interest, both with respect to individual assets owned by theCompany as well as potential cash offers for the Company as a whole. In thelight of such interest, the Board decided to allow a number of parties access toa data room to commence due diligence on the Company. The Board of SkyePharma continues to seek potential offers for the Company as awhole, but it is not clear at this stage that an offer for the Company, whetherin cash or otherwise, which is capable of recommendation, will be forthcoming.In addition, a number of parties remain interested in potentially acquiringindividual assets owned by the Company. For further information please contact: SkyePharma PLC +44 207 491 1777Michael Ashton, Chief Executive Officer +44 207 491 5124Peter Laing, Director of Corporate Communications Sandra Haughton, US Investor Relations +1 212 753 5780 Buchanan Communications +44 207 466 5000Tim Anderson / Mark Court/ Rebecca Skye Dietrich +44 7710 328 560 This information is provided by RNS The company news service from the London Stock Exchange