Guilford Pharmaceuticals is cutting 38 jobs and refocusing its efforts on two products: a treatment for brain cancer and the experimental anesthesia Aquavan. Guilford said that it would continue to support the heart disease therapy Aggrastat as it sought to license, sell or partner on the treatment. But only "minimal" funds would be used to promote the drug. Aggrastat earned $12.5 million in revenue last year. Its hopes for future success lie with Aquavan, which the company believes could be submitted for approval next year.
- read this story from the AP for more on the restructuring