CollaGenex Announces Restructuring

CollaGenex Pharmaceuticals announced restructuring plans following the approval by the FDA of a generic form of Periostat for sale by IVAX Pharmaceuticals and CorePharma. Unless an injunction is ordered, CollaGenex will cease all sales and marketing activity with respect to Periostat as of Friday, May 20, and execute plans to reduce its headcount by 63 people, including all of its dental sales force. The 34-person dermatology sales force will continue to market Pandel, a prescription corticosteroid, prepare for the launch of Oracea and sell other products that the company may co-promote or in-license in the future.

Genetic Engineering News (http://www.genengnews.com/news/bnitem.aspx?name=528784XSL_NEWSML_TO_NEWSML_WEB.xml)