SkyePharma at buy by Jefferies

Jefferies & Co., Inc. analyst Robin Campbell rated SkyePharma plc at a buy on news of the company's "dour" results. While the company has a business with latent value, it needs to jettison the expensive IV drugs business as soon as possible, the analyst said. Campbell is concerned that SykePharma will license "Bupi" and then aim for a fire sale of remaining assets to smother the cash burn. Shares of the London-based pharmaceutical company were down 30 cents, or 6.17%, at $4.56. (Nasdaq: SKYE)

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