SkyePharma and Mundipharma sign international agreement

British pharmaceutical company SkyePharma has said it has found a distribution partner for Flutiform in the shape of Mundipharma.

SkyePharma has been searching for a distribution partner for countries outside the US, where Kos Pharmaceuticals has agreed to sell the product after an agreement in May.

Flutiform is a fixed-dose combination therapy for asthma and chronic obstructive pulmonary disease comprising fluticasone and formoterol, administered through a metered-dose inhaler. Mundipharma may now market the drug in Europe and other territories outside the Americas.

In addition, Mundipharma may negotiate exclusive rights to sell Flutiform in the Japanese market.

Frank Condella, chief executive of SkyePharma, remarked: “I am pleased to announce another significant step in the strategic plan that we announced to shareholders earlier this year.”

“We expect to reach the market with Flutiform in 2009, by which time the European market for combination treatments for asthma and COPD is expected to exceed $3 billion,” he added.

Ake Wikstrom, regional director of Europe for Mundipharma, concluded: “[Flutiform] offers the potential of an excellent therapeutic option in the management of asthma and COPD and thus represents a major opportunity for our continued growth.”

Last month, Mr Condella revealed he was disappointed by SkyePharma’s stock market decline and said he was unaware of any specific reason why this should be happening. SkyePharma shares are currently trading at 26.75 pounds after dipping below 22.50 pounds in August.

© Adfero Ltd