Sep 24th 2012 - Edison Investment Research today published a report on SkyePharma (SKP.L, LSE:SKP, LON:SKP) entitled "Last But Not Least...". In summary, the report says:
SkyePharma’s partner, Mundipharma, has launched flutiform in Germany at a slight discount to the existing leading products. The emphasis is clearly to highlight flutiform’s clinical efficacy rather than major on price alone. flutiform’s first launch marks an important stage in SkyePharma’s rehabilitation. Assuming the proposed restructuring of its convertible bonds proceeds as planned, investor attention should switch to flutiform’s commercial prospects. After adjusting for the restructuring of the bonds, our NPV model suggests the equity is worth 250p a share.
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