Adolor Corp (ADLR)

[surf1944]

Adolor will cut jobs, restructure to save money
Adolor plans to cut 45 jobs, restructure business to focus on late-stage drugs
Marley Seaman, AP Health Writer

Adolor Corp., GlaxoSmithKline plc
EXTON, Pa. (AP) -- The drugmaker Adolor Corp. said Thursday it will eliminate about 45 jobs, or 28 percent of its work force, to cut costs and will focus on developing it most promising drugs.

Adolor said the moves will reduce annual spending by about $12 million. It said it will focus on its constipation drug Entereg and products which are in the later stages of clinical development. The company said it is putting fewer resources into early stage drug candidates.

Entereg, its only approved drug, is intended to treat constipation following abdominal surgery. It was launched last year, and sales totaled $1.2 million. Adolor markets the drug through a partnership with GlaxoSmithKline PLC of London.

The company expects charges of up to $6 million in the second quarter from restructuring, severance and write-offs. Adolor currently has about 160 employees, and has hired about 30 people this year.