SkyePharma, First Horizon to develop controlled-release version of Sular for hypertension

By Lisa Kerner

Erie, Pa., May 22 - SkyePharma plc and First Horizon Pharmaceutical Corp. have agreed to develop a novel controlled-release version of First Horizon's antihypertensive product Sular (nisoldipine).

The SkyePharma version, expected to replace the current version, is designed to have an improved pharmacokinetic profile, according to a company news release.

Under the agreement, SkyePharma will receive a royalty on net sales of Sular CR and up to $5 million in milestone payments based on regulatory approvals. The company received $1 million when the agreement was signed.

First Horizon will fund all of SkyePharma's development costs and will market the product through its sales force of 525 representatives.

"SkyePharma's core competency is the development of improved formulations of existing products," SkyePharma chief executive officer Frank Condella said in the release.

"This new agreement reinforces our activities in this area now that we are focusing on our core business of oral and inhalation products."

SkyePharma is a London-based pharmaceutical company specializing in drug delivery technologies.

Alpharetta, Ga.-based First Horizon develops prescription medicines for cardiovascular, obstetrical and gynecological, pediatric and gastroenterological conditions and disorders.

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