Skyepharma is acquired by Vectura for around £441 million and with it Flutiform

Vectura and Skyepharma have reached an agreement on the terms of a recommended merger. Under the terms of the deal, Skyepharma shareholders will get 2.7977 new Vectura shares for each Skyepharma share. Based on Vectura's closing price of 146.60p on Tuesday, this values Skyepharma at 410.15p per share or around £441.13 million. Skyepharma, which specialises in oral and inhalation drug development, said it reached its first sales milestone for Flutiform of £10m ($7.4m) in the year.