Acorda gains as arbitration panel awards $16.5 million from Alkermes

Acorda Therapeutics

17/10/2022 11:28

** Shares of drugmaker Acorda Therapeutics  ACOR.O  surge
~55% to 53 cents before the bell 
    ** Co says arbitration panel awarded $16.5 million from
Alkermes  ALKS.O  as part of its final decision in a dispute
regarding licensing royalties relating to drug AMPYRA
 urn:newsml:reuters.com:*:nBw2GH9Cta
    ** AMPYRA is used as a treatment to improve walking among
patients with multiple sclerosis (MS)
    ** ACOR will no longer have to pay ALKS any royalties on
sales for license and supply of AMPYRA 
    ** Co is now also free to use alternative sources for supply
for AMPYRA, as a result of panel's ruling 
    ** As of last close, ACOR down ~86% YTD
 (Reporting by Bhanvi Satija in Bengaluru)
 ((Bhanvi.Satija@thomsonreuters.com; Outside U.S. +91
9873062788;))