Adolor Corporation Announces Agreement to Acquire Full Ownership of ENTEREG
Adolor Corporation (Nasdaq: ADLR) today announced that it has entered into an agreement with GlaxoSmithKline (GSK) whereby Adolor will reacquire all rights to Adolor's FDA-approved product ENTEREG. The transaction is expected to close in September 2011. Currently, ENTEREG is co-promoted by Adolor and GSK in the United States.
“We are thrilled to have an agreement to acquire the rights to ENTEREG held by GSK,” said Michael R. Dougherty, President and Chief Executive Officer. “We see continuing revenue growth ahead for ENTEREG, building upon the solid foundation laid by GSK and Adolor over the past several years. We expect ENTEREG to generate meaningful cash flows for Adolor over the next year and into the future.”
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.