Acorda Therapeutics Announces Management Changes
March 08 2019 - 7:00AM
Business Wire
Acorda Therapeutics, Inc. (NASDAQ:ACOR) today announced that
Andrew Hindman, Chief Business Officer, will transition out of the
Company over the coming months.
“We thank Andrew for his many contributions to Acorda over the
past five years. One of his first achievements was helping to lead
Acorda’s acquisition of Civitas and INBRIJA, which was
transformational for the Company,” said Ron Cohen, M.D., Acorda’s
President and CEO. “Andrew is interested in pursuing opportunities
in the wider biopharma industry. While we will miss him, we support
his ambitions. He graciously has agreed to remain with Acorda for
several months to ensure an orderly transition.”
“I’m proud to have contributed to the strategic evolution of
Acorda over the last five years,” said Mr. Hindman. “The approval
of INBRIJA cements Acorda’s leadership in Parkinson’s disease, and
also validates the ARCUS Technology as an innovative platform with
potential to enable delivery of medications by inhalation.”
Throughout the transition period, Mr. Hindman will continue to
work on Acorda’s business development, including evaluating ex-US
commercial partnerships for INBRIJA. Acorda filed a Marketing
Authorization Application, or MAA, with the European Medicines
Agency, or EMA, in March 2018, and expects a final decision before
the end of 2019.
INBRIJA was approved by the U.S. Food and Drug Administration,
or FDA, on December 21, 2018 for the intermittent treatment of OFF
episodes in adults with Parkinson’s disease treated with
carbidopa/levodopa. INBRIJA currently is available by prescription
in the U.S.
Acorda expects to recruit from outside the company to fill Mr.
Hindman’s position. In the interim, Dr. Cohen will continue to be
the Company’s lead investor relations spokesperson, and members of
Acorda’s senior executive team will support its business
development, financial planning and alliance management
processes.
About Acorda Therapeutics
Acorda Therapeutics develops therapies to restore function and
improve the lives of people with neurological disorders. INBRIJA™
(levodopa inhalation powder) is approved for intermittent treatment
of OFF episodes in adults with Parkinson’s disease treated with
carbidopa/levodopa. INBRIJA is not to be used by patients who take
or have taken a nonselective monoamine oxidase inhibitor such as
phenelzine or tranylcypromine within the last two weeks. INBRIJA
utilizes Acorda’s innovative ARCUS® pulmonary delivery system, a
technology platform designed to deliver medication through
inhalation. Acorda also markets the branded AMPYRA® (dalfampridine)
Extended Release Tablets, 10 mg.
Forward-Looking Statements
This press release includes forward-looking statements. All
statements, other than statements of historical facts, regarding
management's expectations, beliefs, goals, plans or prospects
should be considered forward-looking. These statements are subject
to risks and uncertainties that could cause actual results to
differ materially, including: we may not be able to successfully
market Inbrija or any other products under development; risks
associated with complex, regulated manufacturing processes for
pharmaceuticals, which could affect whether we have sufficient
commercial supply of Inbrija to meet market demand; third party
payers (including governmental agencies) may not reimburse for the
use of Inbrija or our other products at acceptable rates or at all
and may impose restrictive prior authorization requirements that
limit or block prescriptions; competition for Inbrija, Ampyra and
other products we may develop and market in the future, including
increasing competition and accompanying loss of revenues in the
U.S. from generic versions of Ampyra (dalfampridine) following our
loss of patent exclusivity; the ability to realize the benefits
anticipated from acquisitions, among other reasons because acquired
development programs are generally subject to all the risks
inherent in the drug development process and our knowledge of the
risks specifically relevant to acquired programs generally improves
over time; we may need to raise additional funds to finance our
operations and may not be able to do so on acceptable terms; the
risk of unfavorable results from future studies of Inbrija
(levodopa inhalation powder) or from our other research and
development programs, or any other acquired or in-licensed programs
; the occurrence of adverse safety events with our products; the
outcome (by judgment or settlement) and costs of legal,
administrative or regulatory proceedings, investigations or
inspections, including, without limitation, collective,
representative or class action litigation; failure to protect our
intellectual property, to defend against the intellectual property
claims of others or to obtain third party intellectual property
licenses needed for the commercialization of our products; and
failure to comply with regulatory requirements could result in
adverse action by regulatory agencies.
These and other risks are described in greater detail in our
filings with the Securities and Exchange Commission. We may not
actually achieve the goals or plans described in our
forward-looking statements, and investors should not place undue
reliance on these statements. Forward-looking statements made in
this press release are made only as of the date hereof, and we
disclaim any intent or obligation to update any forward-looking
statements as a result of developments occurring after the date of
this press release.
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version on businesswire.com: https://www.businesswire.com/news/home/20190308005071/en/
Felicia VonellaVice President, Investor Relations(914)
326-5146fvonella@acorda.com
Acorda Therapeutics (NASDAQ:ACOR)
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