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Biotech / Medical : SKYEY - SkyePharma PLC

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To: Dr. John M. de Castro who wrote (32)8/1/1999 6:30:00 PM
From: Dave K   of 56
 
SmithKline to buy into SkyePharma -- paper

Sunday August 1, 12:58 pm Eastern Time

LONDON, Aug 1 (Reuters) - Anglo-U.S. drug company SmithKline Beecham Plc is close to taking a $10 million stake in British biotechnology company SkyePharma Plc (quote from Yahoo! UK & Ireland: SKP.L), the Sunday Telegraph reported.

The paper said the investment was part of a deal under which SkyePharma would reformulate SmithKline's Requip treatment for Parkinson's disease.

A spokesman for SmithKline said he had no knowledge of such a deal, and declined further comment.

SkyePharma already has links with SmithKline, and in February announced U.S. Food and Drug Administration approval for a controlled release version of SmithKline's anti-depressant Paxil/Seroxat.
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