Inspire CEO Shaffer to step down

STAFF WRITERJuly 31, 2009 

Christy L. Shaffer, who has been one of the Triangle's most visible business leaders for more than a decade, plans to step down as CEO of Inspire Pharmaceuticals.

The Durham drug company announced this morning that Shaffer will quit once a successor is in place. She joined Inspire in 1995.

Shaffer is a former chairwoman of the Council for Entrepreneurial Development in Research Triangle Park, and has long been an advocate for Triangle businesses and entrepreneurs.

Inspire also reported a net loss of $9.5 million for the second quarter. That was worse than a loss of $6.4 million during the same period in 2008.

Revenue from sales of its drugs to treat pink eye and other eye diseases was $23.1 million, up from $22 million last year.

Inspire, which is working on an experimental drug to treat cystic fibrosis, is trying to conserve cash to ride out the economic downturn.

In March, the company eliminated 20 jobs.

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