British drugmaker SkyePharma PLC said Tuesday that it plans to sell its injectable business to Blue Acquisition Corp. for a sum that could top $82 million.

The consideration includes an initial payment of $20 million and up to $62 million in contingent milestone payments, plus a percentage of sales of certain future products for a defined period of time.

The injectable business will retain responsibility for certain royalty-related payments, SkyePharma said.

Company officials said the sale will eliminate the business' significant cash burn and operating losses.

NEWS ARCHIVES

2008

• September
• August
• July
• June
• May
• April
• March

2007

• April
• March
• February
• January

2006

• December
• November
• October
• September
• August
• July
• June
• May
• April
• March
• February
• January

2005

• December
• November
• October
• August
• June
• April
• March
• February

2004

• December

NEWSLETTER SIGNUP