Directorate Change
20 December 2003 - 3:59AM
UK Regulatory
RNS Number:5149T
Skyepharma PLC
19 December 2003
For Immediate Release 19 December, 2003
SkyePharma PLC
SKYEPHARMA'S FOUNDER AND CHAIRMAN
TO STEP DOWN TO NON-EXECUTIVE ROLE
LONDON, UK, 19 December 2003 -- SkyePharma PLC (LSE: SKP, Nasdaq: SKYE)
announces today that Ian Gowrie-Smith will step down as Executive Chairman at
SkyePharma's next Annual General Meeting in 2004 and seek reappointment as
Non-Executive Chairman. This will enable Mr Gowrie-Smith to concentrate on his
other business interests, including Triple Plate Junction PLC ("Triple Plate
Junction") whose fund-raising and intention to join the Alternative Investment
market ("AIM") are being announced today.
Mr Gowrie-Smith founded SkyePharma in 1996. Over the following seven years he
has built it into a company with a current market capitalisation of #470 million
that is a world leader in drug delivery technology, producing easier-to-use and
more effective formulations of drugs. Prior to setting up SkyePharma, he founded
Medeva PLC, a UK pharmaceutical company that was subsequently acquired by
Celltech PLC in 1999 for #554 million.
Mr Gowrie-Smith is Non-Executive Chairman of Triple Plate Junction, a gold
exploration and mining company. He is also Non-Executive Chairman of Tiberon
Minerals Limited, a mining company whose shares are listed on the Toronto Stock
Exchange. Additionally Mr Gowrie-Smith is Non-Executive Chairman of Micap PLC, a
UK company based on yeast technology. SkyePharma currently holds just over 18%
of the issued share capital of Micap.
Mr Gowrie-Smith, Chairman of SkyePharma, said "It has been a great challenge to
start and then build first Medeva and now SkyePharma. However it is in the
earlier stages of a company's development where I believe I can make the
greatest contribution. With the expansion of my other interests and with
SkyePharma now firmly established, I think the time is now appropriate for me to
relinquish my executive role. I remain convinced that SkyePharma has an exciting
future and I look forward to seeing the company harvest the fruits of our
labours over the past seven years."
SkyePharma PLC develops pharmaceutical products benefiting from world-leading
drug delivery technologies that provide easier-to-use and more effective drug
formulations. There are now nine approved products incorporating three of
SkyePharma's five technologies in the areas of oral, injectable, inhaled and
topical delivery, supported by advanced solubilisation capabilities. For more
information, visit www.skyepharma.com.
Except for the historical information herein, the matters discussed in this news
release include forward-looking statements that may involve a number of risks
and uncertainties. Actual results may vary significantly based upon a number of
factors, which are described in SkyePharma's 20-F and other documents on file
with the SEC. These include without limitation risks in obtaining and
maintaining regulatory approval for existing, new or expanded indications for
its products, other regulatory risks, risks relating to SkyePharma's ability to
manufacture pharmaceutical products on a large scale, risks that customer
inventory will be greater than previously thought, risks concerning SkyePharma's
ability to manage growth, market a pharmaceutical product on a large scale and
integrate and manage an internal sales and marketing organization and maintain
or expand sales and market share for its products, risks relating to the ability
to ensure regulatory compliance, risks related to the research, development and
regulatory approval of new pharmaceutical products, risks related to research
and development costs and capabilities, market acceptance of and continuing
demand for SkyePharma's products and the impact of increased competition, risks
associated with anticipated top and bottom line growth and the possibility that
upside potential will not be achieved, competitive products and pricing, and
risks associated with the ownership and use of intellectual property rights.
SkyePharma undertakes no obligation to revise or update any such forward-looking
statement to reflect events or circumstances after the date of this release.
For further information please contact:
SkyePharma PLC +44 207 491 1777
Michael Ashton, Chief Executive Officer
Peter Laing, Director of Corporate Communications +44 207 491 5124
Sandra Haughton, US Investor Relations +1 212 753 5780
Buchanan Communications +44 207 466 5000
Tim Anderson
This information is provided by RNS
The company news service from the London Stock Exchange
END
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