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Acorda Rises On Restructuring, ALXN Pauses COVID-19 Trial, SYBX On Watch
Read on.
1. Acorda Rises on Corporate Restructuring
Shares of Acorda Therapeutics Inc. (ACOR) jumped over 44% on Wednesday, on news of the company agreeing to sell its INBRIJA manufacturing operations in Chelsea, Massachusetts to Catalent, Inc. (CTLT) for $80 million in cash.
INBRIJA is a prescription medicine from Acorda Therapeutics indicated for use when needed with hypomobility or OFF episodes in adults with Parkinson s disease treated with regular carbidopa/levodopa medicine.
The companies have also inked a long-term global supply agreement under which Catalent will manufacture and package INBRIJA for Acorda, ensuring an uninterrupted drug supply for Acorda s patients.