SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a - 16 OR 15d - 16 OF
THE SECURITIES EXCHANGE ACT OF 1934
For the month of February, 2006
SkyePharma PLC
SkyePharma PLC, 105 Piccadilly, London W1J 7NJ England
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40F.
Form 20-F X Form 40-F
Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes No X
If "Yes" is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): 82- _______
| For Immediate Release | 13 February 2006 | ||
SkyePharma PLC
Ian Gowrie-Smith Retires from SkyePharma's Board
LONDON, UK, 13 February 2006 - SkyePharma PLC (LSE: SKP; Nasdaq: SKYE)
announces the retirement of Ian Gowrie-Smith, a non-Executive Director, from the
Board with immediate effect. Mr Gowrie-Smith was the founder of SkyePharma in
1996 and remains a major shareholder. Mr Gowrie-Smith has decided to bring
forward the date of his retirement from the Annual General Meeting later this
year in order to ensure that the only proposal for shareholders to consider in
connection with the impending Extraordinary General Meeting is whether Mr Thian
is suitable to become the Executive Chairman of SkyePharma. It is the Board's
strong opinion that Mr Thian is not suited to this role as he does not have the
right experience and because it will conflict with his existing taxing
commitments. The Board believes that the Company should move forward under the
guidance of its newly appointed non-Executive Chairman, Chief Executive Officer
and Chief Operating Officer.
Ian Gowrie-Smith said: "I am immensely proud of my track record, creating two UK
pharmaceutical companies in the last 18 years, both of which have reached
valuations of over $1 billion. Today SkyePharma is the fifth largest
pharmaceutical company in the UK. Medeva and SkyePharma stand as a credit to the
teams that built them and I think of them as two of my greatest achievements.
"Creating and developing companies in the pharmaceutical sector is very
challenging, not only for management but also for our investors. Development
times are long, clinical and regulatory hurdles are formidable and costs from
inception to marketing are daunting.
"For me the most exciting news is that FlutiformTM is just about to commence
its Phase III trial. I am firmly convinced that it was the right decision for
SkyePharma to carry out the development of our lead pipeline product. Out-
licensing it prematurely to satisfy short-term demands would not have been
sensible for an asset that we believe has a very good chance of generating sales
in excess of $1 billion. I am fully confident that the new management team of Dr
Jerry Karabelas, Frank Condella and Dr Ken Cunningham have the talent and
experience to maximise the potential of FlutiformTM and our other pipeline
products.
"I leave SkyePharma with a lot to look forward to. I would like to thank
everyone who has contributed to building SkyePharma over the last ten years and
wish them all well, confident in their talents and the strengths of their
Company. I am also grateful to shareholders for their support over the years."
| For further information please contact: | |||
| SkyePharma PLC | |||
| Michael Ashton, Chief Executive | +44 207 491 1777 | ||
| 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 / Mark Court | |||
Notes for editors
About SkyePharma
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 eleven approved products incorporating SkyePharma's
technologies in the areas of oral, injectable, inhaled and topical delivery,
supported by advanced solubilisation capabilities. For more information, visit
www.skyepharma.com.
Certain statements in this news release are forward-looking statements and are
made in reliance on the safe harbour provisions of the U.S. Private Securities
Litigation Act of 1995. Although SkyePharma believes that the expectations
reflected in these forward-looking statements are reasonable, it can give no
assurance that these expectations will materialize. Because the expectations are
subject to risks and uncertainties, actual results may vary significantly from
those expressed or implied by the forward-looking statements based upon a number
of factors, which are described in SkyePharma's 20-F and other documents on file
with the SEC. Factors that could cause differences between actual results and
those implied by the forward-looking statements contained in this news release
include, without limitation, risks related to the development of new products,
risks related to obtaining and maintaining regulatory approval for existing, new
or expanded indications of existing and new products, risks related to
SkyePharma's ability to manufacture products on a large scale or at all, risks
related to SkyePharma's and its marketing partners' ability to market products
on a large scale to maintain or expand market share in the face of changes in
customer requirements, competition and technological change, risks related to
regulatory compliance, the risk of product liability claims, risks related to
the ownership and use of intellectual property, and risks related to
SkyePharma's ability to manage growth. SkyePharma undertakes no obligation to
revise or update any such forward-looking statement to reflect events or
circumstances after the date of this release.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
SkyePharma PLC
By: /s/ Douglas Parkhill
Name: Douglas Parkhill
Title:
Company Secretary
Date: February 13, 2006