Adolor Soars 37% on GlaxoSmithKline Deal
Drug development agreement concerns Adolor's alvimopan.
Adolor (ADLR) was up 37% to $13.52 after the company signed a drug development agreement with GlaxoSmithKline (GSK) - Get Report. The companies will work on commercializing Adolor's alvimopan, a treatment for managing bowel paralysis after surgery and constipation caused by opioid use. Alvimopan is in late-stage clinical development. GlaxoSmithKline will pay Adolor an initial fee of $50 million, and clinical and regulatory milestone payments could reach up to $220 million.
