SALE OR BREAK-UP FOR SKYEPHARMA

SKYEPHARMA'S days as an independent pharmaceuticals company are numbered as the struggling drugs group effectively put itself up for sale following an unsolicited bid approach. SkyePharma has appointed Lehman Brothers to review its strategic options, which could include an outright sale, break-up or more complex refinancing arrangements. An unnamed suitor, which approached the company last week, is taking advantage of the recently weakened share price.

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