Sep. 24, 2014, 10:01 AM
- Alkermes plc (ALKS +0.4%), through its subsidiary Alkermes, Inc., will reap some financial benefits from Acorda's (ACOR +17.3%) $525M acquisition of Civitas. It will receive $30M for the sale of certain commercial-scale pulmonary manufacturing equipment used by Civitas and ~$29M for its ~6% stake in the privately-held firm.
- The payments will not impact Alkermes' non-GAAP net income.
Sep. 24, 2014, 8:08 AM
- Acorda Therapeutics (NASDAQ:ACOR) acquires privately-held Chelsea, MA-based Civitas Therapeutics for $525M in cash. The transaction enables Acorda to obtain worldwide rights to CVT-301 (inhaled L-dopa), a Phase 3 product candidate for the treatment of OFF episodes in patients with Parkinson's disease. Estimated U.S. sales of CVT-301 are expected to be at least $500M.
- Acorda will hold a conference call this morning at 8:30 am ET to discuss the transaction.
Jul. 9, 2013, 8:32 AMAcorda Therapeutics (ACOR) has acquired the rights in the Americas and certain other territories to two nerve pain treatments from NeurogesX (NGSX.OB) - FDA approved Qutenza and "Phase III ready" NP-1998. Acorda paid $8M up front and will pay as much as $5m in milestones related to NP-1998. (PR) | Comment!
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