CARMEL VALLEY -- In a move that saves the company a total of $10.1 million this year, Neurocrine Biosciences Inc. fired its entire 165-person sales force Wednesday.

Neurocrine made the decision because it didn't have enough for the sales force to do, a company news release said.

"Despite our best efforts, we have not been successful in acquiring a product which our sales force could promote," said Gary Lyons, company president and chief executive officer.

Neurocrine ended development efforts on two drugs this year. In March, it abandoned work on a drug for multiple sclerosis because it didn't show effectiveness. And in May, the company dropped a much more anticipated drug after the U.S. Food and Drug Administration said it needed more information before it could decide whether the drug could be sold.

The drug, an insomnia medication called indiplon, had been delayed before. Neurocrine said in fall 2004 that it needed to refile its application with the FDA due to a formatting error. Investors deserted Neurocrine after the second failure, and Neurocrine stock plummeted more than 60 percent in one day. Neurocrine stock sold for more than $54 per share before the May 15 decision; it sold Wednesday for less than $10 per share.

Based in Carmel Valley, Neurocrine Biosciences is a biopharmaceutical company focused on neurological and endocrine diseases and disorders. It doesn't have any products to date, but it is trying to develop products to help customers with anxiety, depression, insomnia, diabetes and irritable bowel syndrome.

The firings will cost the company about $5.9 million in compensation to members of the sales force, but eliminating their positions will save the company $16 million, according to the release.