TechMARK movers: AstraZeneca drops SkyePharma product

7th Mar 2011 12:04

Shares in drug discovery company SkyePharma have slumped following news that AstraZeneca has decided to stop production of one of its drugs using SkyePharma's drug delivery technology. There were manufacturing problems because of technical aspects of the PULMICORT (budesonide) 100 and 200 µg/dose HFA pMDI (pressurised metered dose inhaler). Any product already made will be sold. SkyePharma says that it earned a "mid-teens royalty" on the product and they accounted for 5% of SkyePharma's revenues. Total revenues were £55.9m in 2009 and were slightly higher in 2010. Revenues and profits slumped at telecommunications and healthcare equipment supplier BATM in 2010 after it was hit by lower sales to telecoms services giant Nokia Siemens Networks. Pre-tax profits slumped from $18.5m to $1.03m on revenues that were down to $120.6m, from $135.4m. However, BATM says that sales have recovered and are expected to continue doing so.Translation software provider SDL reported an 18% increase in revenues to £203.5m in 2010. Pre-exceptionals profit was 19% ahead at £35.4m. SDL expects 2011 to be another good year for the business. There is £46.6m in the bank and a maiden final dividend of 5.5p a share is proposed. FTSE TechMARK - Risers Imagination Technologies Group (IMG) 469.60p +3.85%SDL (SDL) 657.00p +3.71%XP Power Ltd. (DI) (XPP) 1,869.00p +3.55%Aveva Group (AVV) 1,707.00p +3.14%ARM Holdings (ARM) 598.50p +2.57%Telecity Group (TCY) 493.10p +2.52%Dialight (DIA) 755.00p +2.51%Kewill (KWL) 95.00p +1.47%Parity Group (PTY) 23.50p +1.08%NCC Group (NCC) 577.50p +0.87%FTSE TechMARK - Fallers Skyepharma (SKP) 35.00p -16.67%BATM Advanced Communications Ltd. (BVC) 22.75p -11.65%Oxford Biomedica (OXB) 6.15p -7.45%Vectura Group (VEC) 63.00p -4.55%Alterian (ALN) 176.00p -3.43%Ricardo (RCDO) 381.25p -2.24%Antisoma (ASM) 2.65p -1.85%Consort Medical (CSRT) 546.00p -1.80%Renishaw (RSW) 1,668.00p -1.59%COLT Group SA (COLT) 148.40p -1.13%