SkyePharma says doesn't have buyer for company as whole, may sell assets

By E. Janene Geiss

Philadelphia, Jan. 11 - SkyePharma plc said Wednesday that while it continues to seek potential offers for the company, it doesn't yet have a buyer for the company as a whole.

The company also said a number of parties remain interested in potentially acquiring individual assets, according to a company news release.

On Nov. 17, SkyePharma said its board had decided to review all of its strategic options, including offers to buy the company.

On Dec. 8, the company said it had received a number of expressions of interest, both with respect to individual assets and potential cash offers for the entire company. At that time, the board decided to allow a number of parties access to a data room to commence due diligence, officials said.

The board said it continues to seek potential offers. Lehman Brothers has been the appointed financial adviser on the review.

London-based SkyePharma uses drug-delivery technology to facilitate drug formulation.

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