SkyePharma regains US marketing rights to Flutiform from Abbott
Shares of UK drug formulation specialist SkyePharma (SKP: L) fell by as much as 5% to 38 pence early on Friday ' but recovered to 39 pence by close, after the company said that US drug major Abbott Laboratories (NYSE: ABT) has terminated its agreement to develop the asthma drug Flutiform, (fluticasone propionate/formoterol fumarate), an investigational treatment for persistent asthma in patients 12 years of age and older. Under the agreement there are no material payments due by either party on termination, the UK firm noted.
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