Acorda Therapeutics Concludes $185M Asset Sale with Merz amid Bankruptcy Filing Following Disappointing Sales

1. Acorda Therapeutics, based in Ardsley, New York, announced a $185 million asset sale agreement with Merz on April 2, 2024.
2. After experiencing years of disappointing sales, particularly for their multiple sclerosis (MS) drug Fampyra (Ampyra in the US), Acorda filed for bankruptcy.
3. Biogen returned the ex-US rights for Fampyra to Acorda, effective January 1 of 2025.
4. Fampyra was approved by the FDA in 2010, with Acorda signing over its ex-US rights to Biogen at that time.
5. U.S. revenue for Ampyra peaked at $542 million in 2017 but declined due to generic competition after four patents were ruled invalid.
6. In the first three quarters of 2023, Acorda reported sales of $45 million, which represented a decrease of 17% from the same period in 2022.
7. The company cut its headcount by 25% in 2019 and another 16% in 2021 as sales continued to decline and high hopes for their Parkinson’s disease treatment Inbrija did not materialize.