Skyepharma Share Discussion Threads

[polaris] 07/11/2015 14:20

That is because they will not get the $8m in milestones from PCRX. That is hardly an issue going forward as it is a one off payment that is likely to come in 2016 instead.

regards,

Paul

[celeritas] 07/11/2015 13:52

Shares mag have given skp a health warning.
Relates to earnings in the second half.

[polaris] 06/11/2015 10:29

and this taken from the 10-K for ENDP filed in 2008

SkyePharma, Inc.

In December 2002, we entered into a Development and Marketing Strategic Alliance Agreement with SkyePharma, Inc. and SkyePharma Canada, Inc. relating to two of SkyePharma’s patented development products, DepoDur® and Propofol IDD-D™ (collectively, the “Skye Products”). Under the terms of the Agreement, Endo received an exclusive license to the U.S. and Canadian marketing and distribution rights for the Skye Products, with options for certain other development products. In return, Endo made a $25 million upfront payment to SkyePharma, which we capitalized as an intangible asset representing the fair value of the exclusive license of the distribution and marketing rights for DepoDur®, with no value being assigned to Propofol IDD-D™ or any other SkyePharma products. We were amortizing this intangible asset over its estimated useful life of 17 years. During the year ended December 31, 2005, we recorded a receivable from SkyePharma of $5 million based upon the achievement of certain criteria as specified in the agreement. This receivable was recorded as a reduction to our recorded intangible asset and the remaining intangible asset began to be amortized over its remaining useful life of 15 years. We collected this receivable in January 2006. Under this agreement, we also obtained options on other SkyePharma development products, including DepoBupivicaine͐2;, a long-acting, sustained release formulation of the local anesthetic bupivacaine. We had the option to obtain commercialization rights for this product when SkyePharma successfully completed its Phase II trials; however, in February 2006 we relinquished our rights to DepoBupivicaine͐2;. During the first quarter of 2006, SkyePharma and the Company decided to discontinue their development and commercialization of the Propofol IDD-D™ product candidate due to development challenges encountered in attempting to achieve the targeted product profile. In January 2007, following an assessment of the status of DepoDur®, we announced that we notified SkyePharma PLC of our intent to terminate our development and commercialization agreement for this product and, in February 2007, entered into a termination agreement with SkyePharma whereby the Development and Marketing Strategic Alliance Agreement terminated in its entirety on March 31, 2007. In order to provide for the continued commercial support of the DepoDur® product and the transition of such product to SkyePharma on March 31, 2007, Endo provided a number of services and undertook certain activities. Specifically, Endo employed commercially reasonable efforts to maintain and continue all U.S. commercial activities in support of DepoDur® through March 31, 2007, and supported and/or undertook the transition of certain Endo functions and activities (including third party activities) to SkyePharma that were useful and necessary for SkyePharma to assume commercial and related responsibilities for DepoDur® in the U.S. All such transition services and activities were completed by March 31, 2007. During the year ended December 31, 2006, as a result of the continued lack of commercial success of DepoDur®, we recorded an impairment charge of $14.8 million related to the remaining unamortized portion of our SkyePharma intangible asset.

regards,

Paul

[polaris] 06/11/2015 10:27

Hi Ace,

SKP partnered with Endo on Propofol-IDD development. I thought this was terminated after the phase-II studies and letter from FDA making phase-III study parameters too difficult to meet (but my memory is hazy on this). A quick check online says terminated development in 2006.

regards,

Paul

[diesel] 06/11/2015 09:32

Final comment on Kyorin results....agree it does look like the report running totals which make qtr 1 and qtr 2 the same, eg no growth.

[aceuk] 05/11/2015 21:25

I see Endo got severely caned tonight - no idea why .... or even if it's relevant but somewhere in the back of my head think so?

[alexchry] 05/11/2015 20:51

Paul,

I'm sure that you are right. Disappointing, worst performance against forecast of all new ethical drugs. Wonder what SKP had got in their forecast of royalties from Kyorin.

[diesel] 05/11/2015 19:04

Paul, I've checked again, can't make head nor tail.....most strange way of reporting, but under 2nd qtr sales they've got Y3bill shown, you're probably right but talk about ambiguous!

[polaris] 05/11/2015 17:04

Hi all,

Checked on the Kyorin results and will say be careful. The sales seem to be for the first two Qs combined so total sales are 3.0BY, not Q2 sales. The forecast for H1 was for 4.1BY and FY 10.3BY. The figures show that despite the increase in sales the sales are 1.1BY below forecasts. They still show a nice trend and i would expect sales to reach around 7-7.5BY for the year, still below the initial forecasts.

regards,

Paul

[polaris] 05/11/2015 16:28

Hi,

I have 315 as the bottom of the channel and it dipped below this for one day for closing price. 330 is the top of the old trading channel after which it is back to the 370 region. A bit of coverage on the FLUTIFORM sales might elicit a pop up. It looks like the last rise to 370 has been worked through but you can never be sure...

regards,

Paul

[diesel] 05/11/2015 16:20

Good news RR, no wonder they are having to up their manufacturing capacity, but we still seem to have been stuck in a down channel these past few weeks.

[polaris] 05/11/2015 16:05

Well that is an interesting piece of news and i just bought back a small number based on this. I always thought the Kyorin projections for the year were fantasy after Q1 but maybe not.

regards,

Paul

[rogerrail] 05/11/2015 14:15

Flutiform momentum continues.

Flutiform Japan revenue for Kyorin Q2 (end Sept) 2015/16 was Yen 3.0 Billion,

UP 100% from Q1 !!

making a total for the HY of Y4.5 Billion which exceeded the very agressive H1 target of Y4.1Billion.

FY target of Y10.3 billion looks odds on.

[gbcol] 30/10/2015 12:55

Yes that's how I saw it stentorian. Q1-Q3 2015 total (172.6m) is about 33% up on 2014 (129.5m). Q315 (59.7m) was up about 19% on Q314 (50.2m). So it's gonna be close but probably just shy.

[stentorian] 30/10/2015 12:24

GBCol,

Pacira's last three announced Qs Exparel sales were $56m, $57m and $59.7m respectively which total $172.7m - therefore to hit the milestone Q4 would need to be $77.3m. A 31% increase on 2014 Q4 sales of $59m. That looks a bit too much to hope for. However, Pacira have publicly acknowledged that Q4 is their strongest quarter for sales.

"Tantalisingly" is apt!

[gbcol] 30/10/2015 10:46

Yes I agree fhmktg, very encouraging and hopefully as they state, they are erring on the cautious side.

Anyone think there is a chance of getting the Exparel $8m milestone in 2015 or is that a no-hoper now? It seems to me that we are going to be tantalisingly short on the $250m sales. That was the main negative that I saw with the next $8m and the $32m milestones both being pushed back a year (to 2016 and 2018 respectively). Otherwise all looking good.

[fhmktg] 30/10/2015 09:11

Very encouraging report from Edison!

[diesel] 29/10/2015 14:07

Thanks Fraz, must have missed that....

[frazboy] 29/10/2015 12:02

RE: Interim Management Statement

"The Board has decided that, following the removal of the requirement for companies to publish Interim Management Statements (IMSs) announced by the Financial Conduct Authority in November 2014, future scheduled communications will comprise close period updates relating to the first six months and full year around the end of June and December respectively; Interim and Final Results in August and March respectively; and a trading update ahead of the Annual General Meeting statement in May."

[aceuk] 29/10/2015 09:24

New Edison valuation - 377p



You do need to be registered

[pachandl] 28/10/2015 19:06

Strange how this share peaks on good news and then slowly drifts downwards until the next announcement. Fortunately the news seems generally positive so I will hold on - given I bought so many years ago!

[fhmktg] 28/10/2015 15:42

Low single % I believe

[frazboy] 28/10/2015 14:23

What percentage are we taking?