The author of the Elric, Eternal Champion and Jerry Cornelius novels, and an inspiration to many creators such as Neil Gaiman, Alan Moore, Wiliam Gibson and Ian Sinclair, posted on his forum that;
Looks like it’s official. I’ll be doing a new Dr Who novel (not a tie-in) for appearance, I understand, by next Christmas. Still have to have talks etc. with producers and publishers but we should be signing shortly. Should be fun.
It'd be nice if it was written under the influence of a ton of drugs. I mean, I think Dr Who is one of the great all time wastes of brain space, I don't really dig franchise novels--the authors are, by and large, writing just for the cash and it shows--but if there was a press release that said, "Six months ago, we delivered 112 kilos of cocaine to Michael Moorcock's house. We locked the doors. We played endless episodes of Dr Who on giant screens outside his house. We give to you now what emerged."--well, I reckon if there was a press release that said that, I'd have to overcome my prejudices.