Acorda Therapeutics (NASDAQ:ACOR), a company developing therapies for restoring function and improving lives of people with neurological disorders, on July 22, 2021 announced entering into distribution as well as supply agreements with Esteve Pharmaceuticals S.A for commercialisation of INBRIJA 33 mg in Spain.
INBRIJA is there in EU for partial treatment of episodic motor fluctuations in adult patients with Parkinson’s disease treated with a levodopa/dopa-decarboxylase inhibitor.
ACORDA will be getting a significant double-digit percent ofthe selling price of INBRIJA in lieu of supply of the product. On the other hand, ESTEVE will be the exclusive distributor for INBRIJA in the zone. ESTEVE anticipates launch of INBRIJA in Spain in quarter four of 2022.
There are currently 300,000 people living in Spain suffering from Parkinson’s disease and the case rate is one new case per 10,000 people per year.
Ron Cohen, M.D., President and CEO of Acorda Therapeutics, said that the availability of INBRIJA in Spain is good for people with Parkinson’s in the country needing therapies for treating OFF periods. Cohen added that Esteve is reputed on successfully commercialisation in Europe for neurological diseases and the firm is also in discussions to supply INBRIJA in parts of Europe and globally.
Market Reaction:
On Thursday, ACOR stock fell 4.30% at $3.81 with more than 123k shares, compared to its average volume of 238k shares. The stock had moved within a range of $3.8100 – 4.0399 after opening the trade at $4. Over the past 52-week, the stock has been trading within a range of $2.5200 – 9.8400. The stock is up by a whopping 52% in the pre-market session.
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