N+1 Singer acts as broker and adviser to Skyepharma. We have withdrawn our forecasts in line with rules of The Panel on Takeovers and Mergers during the offer period (Skyepharma and Vectura Group announced a recommended merger on 16th March 2016). This note reproduces the RNS released at 7am on the 18th May 2016. Skyepharma provided an update ahead of its Annual General Meeting.