Skyepharma's year-end cash to be above expectations

Skyepharma said its cash balance will be ahead of expectations at the end of the financial year.

The AIM-listed oral and inhalation drug development company posted a trading update on Wednesday ahead of a capital markets meeting.

It noted that overall trading is in line with the expectations, however the group has benefited from higher cash receipts.

The company also highlighted its product flutiform has now been approved in 38 countries and launched in 30, with applications for marketing authorisations currently under review in another 15 countries.

Skyepharma also noted that it is making progress on two new products to treat asthma.

"We remain on track to deliver substantial growth in revenues in 2015, with continued contributions from flutiform, Pacira's EXPAREL and the GSK Ellipta-range product,” said chief executive Peter Grant.

“This strong performance underpins our ability to invest in building the pipeline for additional future growth as well as meeting anticipated future demand for flutiform.”

Shares in Skyepharma were up 8.25p (2.64%) at 1120 GMT to 320.25p.