How to remove characters enclosed in single quotes?

How to remove characters enclosed in single quotes?

My data is something like this

(03/22/2011 08:17:26.650)    :  ( -> '1'  -> '1-1-3'  -> '6'  -> '1'  -> 'SALMOR58BB4' aaaaa bbbbbb ccccc ((dddd))

I want the output to be

(03/22/2011 08:17:26.650)    :  ( ->   -> ->  ->  -> aaaaa bbbbbb ccccc ((dddd))

And it will be great if i can remove -> as well.
Thanks

sed "s/'[^']*'//g;s/->//g" inp_file
echo "(03/22/2011 08:17:26.650)    :  ( -> '1'  -> '1-1-3'  -> '6'  -> '1'  -> 'SALMOR58BB4' aaaaa bbbbbb ccccc ((dddd))" | perl -nle "s/\'.+?\'//g;print;"