Acorda Therapeutics

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Acorda Therapeutics Inc.
Public
Traded asNASDAQACOR
S&P 600 Component
FWBCDG
IndustryHealth care
Biotechnology
Founded1995 (1995)[1]
FounderRon Cohen
Headquarters420 Saw Mill River Road, Ardsley, New York,
U.S.
Key people
Ron Cohen (CEO)
ProductsAmpyra
Inbrija
RevenueIncrease US$588.22 Million (FY 2017)[2]
Increase US$35.1 Million (FY 2011)[2]
Increase US$30.6 Million (FY 2011)[2]
Total assetsIncrease US$379.5 Million (FY 2011)[2]
Total equityIncrease US$205.2 Million (FY 2011)[2]
Number of employees
484 (February, 2019)
WebsiteAcorda.com

Acorda Therapeutics, Inc. is an American biotechnology company based in Ardsley, New York. The company develops therapies that improve neurological function in people with Parkinson’s disease, multiple sclerosis and other neurological disorders. Acorda Therapeutics manufactures and markets the drugs Inbrija (levodopa inhalation powder) and Ampyra (dalfampridine) in the United States.

Products[edit]

Inbrija is administered by inhalation and is indicated for the intermittent treatment of off episodes in patients with Parkinson's disease currently taking carbidopa/levodopa. Inbrija is projected to be available by prescription in the first quarter of 2019.

Development pipeline[edit]

ARCUS Technology[edit]

Acorda Therapeutics owns the rights to the investigational pulmonary drug delivery system known as ARCUS. This technology allows for the administration of drugs by inhalation. The FDA approved drug Inbrija (levodopa inhalation powder) and the clinical-stage drug CVT-427 (zolmitriptan) currently use the ARCUS technology for drug delivery. Acorda Therapeutics acquired the rights to ARCUS as part of the $525 million acquisition of Civitas Therapeutics in 2014.[8]

History[edit]

Acorda Therapeutics was founded in 1995.[9]

In September 2014, the company acquired Civitas Therapeutics for $525 million - gaining the Phase III Parkinson’s drug, CVT-301, the migraine drug CVT-427 and rights to the ARCUS pulmonary delivery system.[10]

In January 2016, the company acquired Finnish pharmaceutical company, Biotie Therapies, for $363 million. This gave the company control over Biote's primary sclerosing cholangitis drug, BTT1023 and the oral adenosine A2A receptor antagonist tozadenant.[11]

In November 2016, Acorda Therapeutics announced it was discontinuing development of dalfampridine, a drug intended for post-stroke walking difficulties, after a clinical trial failure.[12]

In November 2017, the company announced discontinuation of research and development of the Phase III Parkinson's disease drug tozadenant. This followed the death of 5 patients enrolled in the tozadenant Phase III trial from agranulocytosis and associated severe adverse events possibly related to tozadenant.[13][14]

In December 2018, the company announced the FDA approval Inbrija (levodopa inhalation powder) for patients with Parkinson's disease.[15][16]

Corporate governance[edit]

As of February 14, 2019, the members of the board of directors of Acorda Therapeutics were: Ron Cohen, Barry Greene, Peder K. Jensen, John P. Kelley, Sandra Panem, Lorin J. Randall, Steven M. Rauscher, and Catherine D. Strader.[17]

As of February 14, 2019, the members of the senior management team were: Ron Cohen M.D. (Founder, President and Chief Executive Officer),[18] Burkhard Blank (Chief Medical Officer), Andrew R. Blight (Chief Scientific Officer Emeritus), Denise Duca (Executive Vice President, Human Resources), Andrew A. Hidman (Chief Business Officer), David Lawrence (Chief, Business Operations and Principal Accounting Officer), Lauren Sabella (Chief Commercial Officer), Tierney Saccavino (Executive Vice President, Corporate Communications) and Jane Wasman (President, International and General Counsel).[19]

References[edit]

  1. ^ Acorda FAQ
  2. ^ a b c d e "Acorda Therapeutics 2011 Annual Report - Form 10-K - February 28, 2012" (PDF). secdatabase.com. Retrieved May 16, 2012.
  3. ^ "Ampyra Prescribing Information" (PDF). Retrieved February 14, 2019.
  4. ^ "Inbrija Prescribing Information" (PDF). Retrieved February 14, 2019.
  5. ^ "BTT1023". www.acorda.com. Retrieved 2019-02-14.
  6. ^ "CVT-427 for the acute treatment of migraines | Acorda.com". www.acorda.com. Retrieved 2019-02-14.
  7. ^ "rHIgM22 Remyelinating Monoclonal Antibody for Potential Multiple Sclerosis Treatment | Acorda.com". www.acorda.com. Retrieved 2019-02-14.
  8. ^ "Acorda Therapeutics to Acquire Civitas Therapeutics". ir.acorda.com. Retrieved 2019-02-14.
  9. ^ "Acorda Therapeutics Inc - Investors - Investor Resources - FAQs". ir.acorda.com. Retrieved 2019-02-14.
  10. ^ "Acorda Buys Civitas and Its Phase III PD Candidate for $525M - GEN News Highlights - GEN".
  11. ^ "Accorda Acquires Biotie Therapies for $363 Million - GEN News Highlights - GEN".
  12. ^ Court, Emma (November 21, 2016). "Acorda Therapeutics plummets as much as 13% on failed trial, discontinued drug development". Market Watch. Retrieved 16 December 2016.
  13. ^ "Acorda Discontinues Tozadenant Development Program". ir.acorda.com. Retrieved 2019-02-14.
  14. ^ "Parkinson's Tozadenant Trial Discontinued". The Michael J. Fox Foundation for Parkinson's Research | Parkinson's Disease. Retrieved 2019-02-14.
  15. ^ "Acorda Therapeutics Announces FDA Approval of INBRIJA™ (levodopa inhalation powder)". ir.acorda.com. Retrieved 2019-02-14.
  16. ^ "New Parkinson's Drug Comes to Market after Early Investment from The Michael J. Fox Foundation". The Michael J. Fox Foundation for Parkinson's Research | Parkinson's Disease. Retrieved 2019-02-14.
  17. ^ "Acorda Therapeutics Board of Directors | Acorda.com". www.acorda.com. Retrieved 2019-02-14.
  18. ^ Wright, Rob (1 July 2019). "Increasing Diversity Among Leadership And Boards". Life Science Leader. VertMarkets.
  19. ^ "Acorda Therapeutics Company Leadership | Acorda.com". www.acorda.com. Retrieved 2019-02-14.

External links[edit]