SkyePharma and First Horizon Extend Agreement for Novel Formulation of Fenofibrate LONDON, Feb. 1 /PRNewswire-FirstCall/ -- SkyePharma PLC (NASDAQ:SKYE) ( LSE: SKP) announces today that it has extended an agreement with First Horizon Pharmaceutical Corporation ("First Horizon", Nasdaq: FHRX) originally signed in May 2004 in connection with SkyePharma's novel formulation of fenofibrate, currently under review by the US Food and Drug Administration ("FDA"). Subject to FDA approval, the amended agreement would now permit First Horizon to launch the novel fenofibrate product in the first half of 2005. Michael Ashton, SkyePharma's Chief Executive Officer, said: "We are delighted by this demonstration of First Horizon's continuing commitment." 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 from SkyePharma's five technologies in the areas of oral, injectable, inhaled and topical delivery, supported by advanced solubilisation capabilities. For more information, visit http://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, SkyePharma's marketing partners' ability to market a pharmaceutical product on a large scale and manage their sales and marketing organisation 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 +44 205-491 5124 Sandra Haughton, US Investor Relations +1 212 753 5780 Buchanan Communications +44 207 466 5000 Tim Anderson / Mark Court DATASOURCE: SkyePharma PLC CONTACT: Michael Ashton, Chief Executive Officer, +44-207-491-1777, Peter Laing, Director of Corporate Communications, +44-205-491-5124, Sandra Haughton, US Investor Relations, +1-212-753-5780, all of SkyePharma PLC, Tim Anderson and Mark Court of Buchanan Communications, +44-207-466-5000 for SkyePharma PLC Web site: http://www.skyepharma.com/

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