Skyepharma forecasts better-than-expected FY profits

31st Jan 2014 08:54

Oral and inhalation drug group Skyepharma forecast annual profits ahead of market hopes, sending its shares soaring.Skyepharma said it expected to report full year 2013 revenue and operating profit "materially ahead of market expectations".The group's Geomatrix and Geoclock technologies enable the development of controlled or timed-release versions of oral pharmaceuticals. Its inhalation technologies include metered dose inhalers and dry powder inhalers.It has partnered with a wide range of companies, from big drug groups such as GlaxoSmithKline, Novartis, Sanofi, Janssen and Roche, to medium-sized firms like Mundipharma and Kyorin, as well as smaller speciality companies.Shares in Skyepharma rose 15.2% to 136.5p at 08:52 in London.PW