SkyePharma PLC Paxil CR(R) - Settlement between GSK and Mylan on Generic Launch LONDON, UK - 23 October, 2007 -- SkyePharma PLC (LSE: SKP) announces that Mylan Inc. (NYSE:MYL ) and its subsidiary Mylan Pharmaceuticals Inc. have entered into a patent license and settlement agreement with GlaxoSmithKline (LSE: GSK) ("GSK") relating to Paroxetine Hydrochloride (HCl) Extended-release (ER) Tablets, the generic version of GSK's Paxil CR(R). All litigation between Mylan and GSK relating to Paroxetine HCl ER Tablets has been dismissed. Mylan has reported that, under the agreement with GSK and an associated supply and distribution agreement, Mylan is provided patent licenses and the right to market all three strengths of Paroxetine HCl ER Tablets, 12.5 mg, 25.0 mg and 37.5 mg, beginning no later than 1 October, 2008. Mylan was the first company to file an ANDA containing a paragraph IV certification covering the 12.5 mg and 25.0 mg strengths. Upon receipt of final approval from the U.S. Food and Drug Administration on 29 June, 2007, Mylan became eligible for a 180-day period of marketing exclusivity for these two tablet strengths. Paxil CRTM is an improved formulation of the anti-depressant Paxil(R) developed by SkyePharma with GSK using SkyePharma's GeomatrixTM technology. Sales of Paxil CRTM in the first half of 2007 were US$154 million. The majority of these sales were in the US on which SkyePharma earned a royalty of 4%. -- ends -- For further information please contact: SkyePharma PLC Frank Condella, Chief Executive Officer Ken Cunningham, Chief Operating Officer +44 207 491 1777 Peter Grant, Finance Director Financial Dynamics (London enquiries) David Yates / Deborah Scott +44 207 831 3113 Trout Group (US enquiries) Christine Labaree / Seth Lewis +1 617 583 1308 About SkyePharma PLC Using its proprietary drug delivery technologies, SkyePharma develops new formulations of known molecules to provide a clinical advantage and life-cycle extension. The Company has eleven approved products in the areas of oral, inhalation and topical delivery. The Group's products are marketed throughout the world by leading pharmaceutical companies. For more information, visit www.skyepharma.com. This information is provided by RNS The company news service from the London Stock Exchange END
SkyePharma PLC announces Paxil Settlement
| Source: SkyePharma PLC
London, UK--(Marketwire - October 23, 2007) -