City institutions will meet the non-executive directors of SkyePharma early next week to discuss the future of Ian Gowrie-Smith, the company’s founder and chairman, after attempts to whip up an auction for the beleaguered drug maker have appeared to fail.
Sources familiar with the situation confirmed last night that discussions pencilled in for the beginning of the week will focus on a change of senior management. The looming crisis of confidence comes as the company cancelled pipeline presentations to analysts in London and New York, scheduled for January 25 and 26.
Insiders' comment: This has been reported on PharmaGossip previously here. The worst thing a director can do is whet the Citys' appetite for a deal and then let them down.
More detail here: Times online
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