Clifford Chance is advising longstanding client Skyepharma PLC in connection with its proposed all share merger with Vectura Group plc.

The transaction values Skyepharma at approximately £440m and the merged group at approximately £1 bn. Skyepharma shareholders will hold approximately 41.75% of the shares in the enlarged group on completion of the merger. Skyepharma is an expert drug development company which combines proven scientific expertise with validated proprietary drug delivery technologies to develop innovative oral and inhalation pharmaceutical products. The Clifford Chance team was led by Corporate Partners Joel Ziff and Gareth Camp and Senior Associate Melanie Howard.