Acorda Therapeutics,Inc. (NASDAQ:ACOR) Files An 8-K Other EventsItem 8.01Other Events
On November 17, 2017, Acorda Therapeutics, Inc. (the “Company”) issued a press release announcing a $40 million royalty monetization with HealthCare Royalty Partners (HCR) and a $13 million royalty monetization with H. Lundbeck A/S. In return for the payment to the Company, HCR obtains the right to receive royalty revenue on FAMPYRA® (prolonged-release fampridine tablets) payable by Biogen, up to an agreed upon threshold of royalties. After this threshold is met, if ever, the Company will continue to receive FAMPYRA royalty revenue until this revenue stream ends. The transaction does not include potential future milestones to be paid by Biogen. H. Lundbeck and the Company have amended the license agreement for Selincro® to eliminate future royalty and milestone obligations on sales of Selincro outside of the United States. Morgan Stanley & Co. LLC served as sole structuring agent on the Fampyra monetization and Covington & Burling LLP served as legal advisor to the Company. A copy of the press release is attached as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated by reference into this Item.
Item 9.01Financial Statements and Exhibits
(d) Exhibits
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Exhibit No. |
Description |
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99.1 |
Press Release dated November 17, 2017 |
ACORDA THERAPEUTICS INC ExhibitEX-99.1 2 acor-ex991_6.htm EX-99.1 acor-ex991_6.htm EXHIBIT 99.1 CONTACT: Felicia Vonella Acorda Therapeutics (914) 326-5146 [email protected] FOR IMMEDIATE RELEASE Acorda Announces Royalty Monetization Transactions for $53 Million ARDSLEY,…To view the full exhibit click here
About Acorda Therapeutics,Inc. (NASDAQ:ACOR)
Acorda Therapeutics, Inc. is a biopharmaceutical company. The Company is engaged in the identification, development and commercialization of therapies that restore function and recovers the lives of people with neurological disorders. Its commercial products include Ampyra, Fampyra, Zanaflex Capsules and a generic version of the capsules, Zanaflex tablets and Qutenza. Its research and development programs include CVT-301, Dalfampridine, Plumiaz, Neuregulin Program, Remyelinating Antibodies Program, CVT-427 and Chondroitinase Program. Its Ampyra is an oral drug for the treatment to improve walking in patients with multiple sclerosis. Zanaflex Capsules and tablets are used as short-acting drugs for the management of spasticity. Qutenza is a dermal patch for the management of neuropathic pain associated with post-herpetic neuralgia. Its pipeline of neurological therapies addresses a range of disorders, including Parkinson’s disease, chronic post-stroke walking deficits and migraine.
