Published on 16 Jun 2022 on Benzinga via Yahoo Finance
Why Acorda Therapeutics Shares Gaining Today?
Acorda Therapeutics Inc (NASDAQ: ACOR) announced that Esteve Pharmaceuticals GmbH launched INBRIJA 33 mg (levodopa inhalation powder, hard capsules) in Germany.INBRIJA is indicated in the EU for the intermittent treatment of episodic motor fluctuations (OFF episodes) in adult patients with Parkinson's disease treated with a levodopa/dopa-decarboxylase inhibitor. Under the distribution and supply agreements, Acorda will receive a significant double-digit percentage of the selling price of INBRIJA in Germany in exchange for the supply of the product and will receive additional sales-based milestones.Acorda expects to start receiving revenue from the product supply during Q2 of 2022.Acorda had also previously announced an agreement with Esteve to commercialize INBRIJA in Spain with a commercial launch in early 2023 and an agreement with Biopas Laboratories to commercialize INBRIJA in Latin America.The company is in active discussions with additional companies for the rights to distribute INBRIJA in other countries.Price Action: ACOR shares are up 37.40% at $0.55 during the premarket session on the last check Thursday.
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