Adolor Corp (ADLR)

[surf1944]

4:42PM Adolor Corp announces agreement to acquire full ownership of ENTEREG (alvimopan) (ADLR) 1.52 +0.02 : Co announced that it has entered into an agreement with GlaxoSmithKline (GSK) whereby Adolor will reacquire all rights to Adolor's FDA-approved product ENTEREG (alvimopan). The transaction is expected to close in September 2011. Currently, ENTEREG is co-promoted by Adolor and GSK in the United States. Under the agreement, Adolor has agreed to pay to GSK $25 mln cash, staged over a six-year period, with $2.5 mln payable in 2011, tiered, mid-single digit royalties on annual net sales and a further one-time, sales-related milestone of $15 mln.