8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of

the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported) December 6, 2004

INSPIRE PHARMACEUTICALS, INC.

(Exact Name of Registrant as Specified in its charter)

Delaware	000-31135	04-3209022
(State or Other Jurisdiction of Incorporation)	(Commission File Number)	(IRS Employer Identification No.)

4222 Emperor Boulevard, Suite 200, Durham, North Carolina	27703-8466
(Address of Principal Executive Offices)	(Zip Code)

Registrant’s telephone number, including area code (919) 941-9777

(Former Name or Former Address, if Changed Since Last Report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 5.02 Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers.

(b)     On December 6, 2004, Dr. Gary Novack resigned as a director of Inspire Pharmaceuticals, Inc. (“Inspire”), effective immediately. On December 7, 2004, Inspire issued a press release attached to and made a part of this report, reporting Dr. Novack’s resignation.

Item 9.01 Financial Statements and Exhibits.

(c) Exhibits

No.	Description
99.1	Press Release dated December 7, 2004

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SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Inspire Pharmaceuticals, Inc.
By:	/s/ Christy L. Shaffer
	Christy L. Shaffer,
	Chief Executive Officer

Dated: December 7, 2004

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EXHIBIT INDEX

No.	Description
99.1	Press Release dated December 7, 2004

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EX-99.1

Exhibit 99.1

For Immediate Release

Contacts: Inspire Pharmaceuticals, Inc. Jenny Kobin Senior Director, Investor Relations (919) 941-9777, Extension 219 EURO RSCG Life NRP Mark Vincent (212) 845-4239

INSPIRE ANNOUNCES RESIGNATION OF DIRECTOR

DURHAM, NC – December 7, 2004 – Inspire Pharmaceuticals, Inc. (NASDAQ: ISPH) today announced that Gary D. Novack, Ph.D. has resigned, effective December 6, 2004, from the Board of Directors of Inspire Pharmaceuticals, Inc. to devote additional time to his growing consulting practice and his position as a Regent of the University of California. Inspire is currently seeking a replacement to fill Dr. Novack’s vacated seat.

“As an expert in the fields of ophthalmology and pharmacology, Gary has provided Inspire with a wealth of knowledge,” stated W. Leigh Thompson, M.D., Ph.D., D.Sc., Chairman of the Board of Inspire. “However, the growth of Gary’s consulting practice has now reached a point where he believes it is prudent to step down from the Board in order to focus his time and energy on his clients. We value Gary’s integrity in making this decision and will miss his presence on the Board.”

Christy L. Shaffer, Ph.D., Chief Executive Officer of Inspire said, “We thank Gary for his dedicated service and contribution to Inspire. We appreciate Gary’s valuable insight into our industry and we look forward to maintaining a relationship with him.”

Dr. Novack stated, “It has been a pleasure to work with the talented Board and management team at Inspire. This company is well-positioned for success and I look forward to working with Inspire in the future.”

About Inspire

Inspire is a biopharmaceutical company dedicated to discovering, developing and commercializing novel prescription products for diseases with significant unmet medical needs. Inspire has significant technical and scientific expertise in the therapy areas of ophthalmology and respiratory and is a leader in the field of P2 receptors which are important drug targets in various therapeutic areas, including ophthalmology, respiratory disease, cardiovascular disease and pain. Inspire’s specialty sales force promotes Elestat^™ and Restasis^®, ophthalmology products developed by Inspire’s partner, Allergan, Inc.

Forward-Looking Statements

The forward-looking statements in this news release relating to management’s expectations and beliefs are based on preliminary information and management assumptions. Such forward-looking statements are subject to a wide range of risks and uncertainties that could cause results

4222 Emperor Boulevard, Suite 200  ·  Durham, North Carolina 27703

Telephone 919.941.9777  ·  Fax 919.941.9797

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to differ in material respects, including those relating to product development, revenue and earnings expectations, intellectual property rights and litigation, competitive products, results of clinical trials, the need for additional research and testing, delays in manufacturing, funding and the timing and content of decisions made by regulatory authorities, including the United States Food and Drug Administration. Further information regarding factors that could affect Inspire’s results is included in Inspire’s filings with the Securities and Exchange Commission. Inspire undertakes no obligation to publicly release the results of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof.

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4222 Emperor Boulevard, Suite 200  ·  Durham, North Carolina 27703

Telephone 919.941.9777  ·  Fax 919.941.9797