Acorda Therapeutics Inc. (ACOR) stock rose by 24.15% at the last close whereas the ACOR stock price fell by 9.30% in the pre-market trading session. Acorda Therapeutics develops treatments to help individuals with neurological diseases regain function and enhance their lives. INBRIJA has been authorized to treat OFF episodes in individuals with Parkinson’s disease who are taking carbidopa/levodopa.
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Significant Update
Esteve Pharmaceuticals S.A (ESTEVE) has signed distribution and supply deals with Acorda Therapeutics to market INBRIJA 33 mg (levodopa inhalation powder, hard capsules) in Spain. In the European Union, INBRIJA is approved for the treatment of episodic motor fluctuations (OFF episodes) in mature Parkinson’s disease patients using a levodopa/dopa-decarboxylase inhibitor.
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ACORDA will get a large double-digit percent of the market value of INBRIJA in Spain in return for supplying the medicine, according to the conditions of the supply contract. In the region, ESTEVE will have unique distribution rights to INBRIJA, and ACORDA will provide the product to ESTEVE. In the fourth quarter of 2022, ESTEVE plans to commercialize INBRIJA in Spain.
According to overall population estimates, at least 300,000 individuals in Spain have Parkinson’s disease, with one new case per 10,000 people diagnosed each year; these numbers are comparable to those in the rest of Europe.
Ron Cohen, President, and CEO of Acorda Therapeutics stated,
They are thrilled to announce a cooperation with ESTEVE to bring INBRIJA to Spain. This is excellent news for Parkinson’s patients in Spain who require treatments to address their OFF periods. ESTEVE has a proven track record of commercializing medicines for neurological and other purposes in Europe. ACOR is also in active talks with other firms over the rights to INBRIJA in various European and international markets.
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Recent Development in ACOR stock
Acorda Therapeutics, Inc. redeemed its 1.75 percent Convertible Senior Notes due 2021 fully on June 15, 2021. The total principal value of 2021 notes outstanding prior to maturity and repayment was $69.0 million. The notes from 2021 were redeemed with cash in hand.
