RNS Number:8371T
Skyepharma PLC
05 January 2004


For Immediate Release                                           5 January, 2004



GLAXOSMITHKLINE LICENSES SKYEPHARMA FORMULATION TECHNOLOGY FOR RESPIRATORY DRUGS


LONDON, UK, 5 January 2004-- SkyePharma PLC (LSE: SKP, Nasdaq: SKYE) today
announced a licence agreement with GlaxoSmithKline (LSE/NYSE: GSK) to provide
access to one of SkyePharma's proprietary formulation technologies for
application to the delivery of respiratory drugs either by breath-actuated
dry-powder inhaler or by metered-dose aerosol inhaler. The agreement was signed
at the end of 2003 and GSK made an initial payment to SkyePharma on signature.
If the patented formulation technology is subsequently incorporated into current
or future products by GSK, SkyePharma will also be entitled to an additional
payment for each such product and a royalty on eventual sales.


Michael Ashton, chief executive of SkyePharma, said: "Following hard on the
heels of the recent FDA "approvable" letter for the Foradil(R) CertiHalerTM that 
we co-developed with Novartis and a subsequent second agreement with Novartis to
jointly develop a dry-powder inhaler version of QAB149, a novel long-acting
bronchodilator, this new agreement with the acknowledged leader in the
respiratory field provides further endorsement of SkyePharma's technology
leadership in the important and fast-growing pulmonary delivery market."


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 / Mark Court







                      This information is provided by RNS
            The company news service from the London Stock Exchange

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