Release issued 13th August 2003

28 Jul 2003

SkyePharma PLC has licensed exclusive marketing and distribution rights for DepoCyte, a treatment for lymphomatous meningitis, to Mundipharma International Holdings Limited for most European and Eastern European countries.

Under the terms of the agreement, Mundipharma will pay SkyePharma euro 4.25 million (US $4.9 million) on signature plus additional milestone payments that may amount in total to euro 10.75 million (US $12.3 million). SkyePharma will manufacture the drug at its San Diego facility and supply to Mundipharma associates at an agreed transfer price. Mundipharma will also pay SkyePharma an additional royalty on sales.

SkyePharma's CEO, Michael Ashton, said "We are delighted to have found in Mundipharma a partner which can bring the focused marketing and sales support needed for a specialist product like DepoCyte. Mundipharma shares our view that lymphomatous meningitis is both under-diagnosed and under-treated and that DepoCyte offers great potential to bring relief of suffering from this devastating complication of cancer. We look forward to working together."

DepoCyte (known as DepoCyt in the USA) is a sustained release injectable formulation of cytarabine and is approved in both the USA and Europe for the treatment of lymphomatous meningitis, a serious late-stage complication of lymphoma, a form of cancer affecting the lymphatic system.

SkyePharma PLC uses its world-leading drug delivery technology to develop easier-to-use and more effective formulations of drugs.

Mundipharma is part of the Purdue/Mundipharma/Napp independent associated companies, a group of privately owned companies and joint ventures covering the world's pharmaceutical markets.

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