2nd UPDATE: Skyepharma Up On Third Positive Flut

By Jason Douglas OF DOW JONES NEWSWIRES LONDON -(Dow Jones)- Shares in U.K. pharmaceuticals company Skyepharma PLC (SKP.LN) rose more than 10% Thursday after it successfully completed its third phase III study of asthma drug, Flutiform. Just one trial now remains before the company can file for approval to market the drug in the U.S. and attempt to grab a slice of the $10 billion asthma market. It's expecting to file in the first quarter of 2009, and have the drug on sale by 2010. Skyepharma shares rose 0.6 pence or 10.5% to 6.48 pence by 0814 GMT, in a lower London market. Ken Cunningham, Skyepharma Chief Operating Officer, said in a statement Thursday the results of the final Flutiform study being conducted by partner Kos Life Sciences, a unit of Abbott Laboratories (ABT), will be completed in the second half of the year.... [read full story]