Acorda Shares Fall as Court Denies Injunction Request in Patent Case -- Market Mover

Date : 07/25/2018 @ 2:36PM
Source : Dow Jones News
Stock : Acorda Therapeutics, Inc. (ACOR)
Quote : 28.0  -0.45 (-1.58%) @ 12:58PM

Acorda Shares Fall as Court Denies Injunction Request in Patent Case -- Market Mover

Acorda Therapeutics, Inc. (NASDAQ:ACOR)
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Acorda Therapeutics Inc. (ACOR) were down 14.8%, to $24.45, Wednesday afternoon as a federal appeals court denied the company's motion for an injunction in its patent litigation with generic drug companies. In 2017, after a district court upheld one patent for multiple sclerosis treatment Ampyra, but invalidated four others, Acorda said it would cut about 20% of its workforce. If the appeals court doesn't overturn the district court's decision by July 30, "multiple generic drug manufacturers may decide to launch at-risk generic versions of Ampyra," the company said in a filing. (josh.beckerman@wsj.com)

 

(END) Dow Jones Newswires

July 25, 2018 14:21 ET (18:21 GMT)

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