On September 6, 2006, SkyePharma Plc. announced that it had entered into an agreement with Mundipharma International Corporation Limited for the development, marketing and distribution in Europe and certain other international markets of Flutiform™, SkyePharma's combination product for asthma and chronic obstructive pulmonary disease.
SkyePharma received an upfront payment of €15 million (US$19 million) on signature and will receive additional milestone payments of up to a further €70 million (US$90 million) on attainment of various development and revenue targets, plus royalties on sales.
Gary Howes, Paul Ranson and Stuart Richards advised SkyPharma in this matter.