Cost Reduction, Restructuring Plan in the Works for Atrix Labs

In an attempt to improve its financial outlook, Atrix Laboratories Inc. (Fort Collins, CO), a developer of drug delivery products and systems, is implementing a cost reduction and restructuring plan. Under the plan, the company will reduce its work force by approximately 12%, resulting in the elimination of 13 positions across all departments.

The company's goal is to reduce operating costs by approximately $1.5 million in 2000. While effective immediately, the restructuring will not have an impact on expenses for the remainder of 1999.

"With the aggressive forward movement of our late-stage development product plans, and lower than expected product sales revenues, we must tightly manage our expenses,'' said David Bethune, vice chairman and CEO of Atrix.

Atrix Laboratories Inc. is a drug delivery company that develops, manufactures, and markets dental, medical, and veterinary drug delivery systems and products.

For more information: David Bethune, CEO, Atrix Laboratories Inc., 2579 Midpoint Dr., Fort Collins, CO 80525. Tel: 970-482-5868. Fax: 970-482-9735.

Edited by Jim Pomager