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SkyePharma's CEO Axel Mueller resigns

He will be replaced by the drug delivery company’s chief financial officer Peter Grant

Axel Mueller has stepped down as CEO of SkyePharma to “pursue other interests”, the drug delivery company said.

He will be replaced by chief financial officer Peter Grant, who will retain his existing responsibility for the group's financial matters.

Grant will also continue to oversee the development of Flutiform, a fixed-dose combination treatment for asthma in a metered dose inhaler. SkyePharma is collaborating with Mundipharma International on the product in Europe, where it was submitted for regulatory approval in 2010.

Grant was appointed chief financial officer in November 2006, prior to which he served as interim  CEO of voice signature company Voice Commerce and held a number of senior commercial, financial and general management roles at General Electric.

SkyePharma's chairman Frank Condella said: “We would like to thank Axel for all his efforts on behalf of the Group and wish him well in his future endeavours. We are pleased that we have an appropriate replacement in Peter Grant. 

“Peter's knowledge of the group, understanding of the finances, excellent track record in reducing SkyePharma's cost base and experience of the Flutiform development and regulatory process over the past five years make him the ideal candidate to take the company forward.”

Earlier this month SkyePharma announced plans for a 20 per cent cut in staff numbers at its Swiss research facility in Muttenz.

The plant currently employs 101 people and the company expects the job cuts to generate cost savings of £1.8m (2.6m Swiss francs) a year.

31st January 2012

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