Source : Acorda Therapeutics, Inc.
HAWTHORNE, N.Y.--(BUSINESS WIRE)--Feb. 6, 2012--
Acorda Therapeutics, Inc. (Nasdaq:
ACOR)
today announced that the Company has partnered with
Watson Pharma, Inc.,
a subsidiary of
Watson Pharmaceuticals, Inc. (NYSE: WPI) to introduce
tizanidine hydrochloride capsules, an authorized generic version of
ZANAFLEX CAPSULES
® (tizanidine hydrochloride).
Tizanidine hydrochloride capsules is a short-acting drug indicated for
the management of spasticity. Because of the short duration of effect,
treatment with tizanidine hydrochloride capsules should be reserved for
those daily activities and times when relief of spasticity is most
important.
Acorda will receive a royalty from Watson based on product sales.
Additional terms of the agreement have not been disclosed.
About Acorda
Therapeutics
Acorda Therapeutics is a biotechnology company focused on developing
therapies that restore function and improve the lives of people with MS,
spinal cord injury and other neurological conditions.
Acorda markets AMPYRA®
(dalfampridine) Extended Release Tablets, 10 mg, in the United
States as a treatment to improve walking in patients with multiple
sclerosis (MS). This was demonstrated by an improvement in walking
speed. AMPYRA is marketed outside the United States as FAMPYRA®
(prolonged-release fampridine tablets) by Biogen Idec under a licensing
agreement from Acorda. AMPYRA and FAMPYRA are manufactured under license
from Alkermes Pharma Ireland Limited.
The Company also markets ZANAFLEX
CAPSULES® (tizanidine hydrochloride) and Zanaflex
tablets, a short-acting drug for the management of spasticity. Acorda
also receives sales royalties on tizanidine hydrochloride tablets, an
authorized generic version of ZANAFLEX CAPSULES distributed by Watson
Pharmaceutics, Inc. under its agreement with Acorda.
Acorda is developing an industry-leading pipeline of novel neurological
therapies. The Company is studying AMPYRA to improve a range of
functional impairments caused by MS, as well as its use in other
neurological conditions, including cerebral palsy and chronic stroke. In
addition, Acorda is developing clinical stage compounds AC105 for acute
treatment of spinal cord injury and GGF2 for treatment of heart
failure. GGF2 is also being investigated in preclinical studies as a
treatment for neurological conditions such as stroke and spinal cord
injury. Additional preclinical programs include rHIgM22, a remyelinating
monoclonal antibody for the treatment of MS, and chondroitinase, an
enzyme that encourages nerve plasticity in spinal cord injury.
Forward-Looking Statements
This press release includes forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995. 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 Acorda Therapeutics' ability to successfully market and sell
Ampyra in the United States; third party payors (including governmental
agencies) may not reimburse for the use of Ampyra at acceptable rates or
at all and may impose restrictive prior authorization requirements that
limit or block prescriptions; the risk of unfavorable results from
future studies of Ampyra; the occurrence of adverse safety events with
our products; delays in obtaining or failure to obtain regulatory
approval of or to market successfully Fampyra outside of the United
States and our dependence on our collaboration partner Biogen Idec in
connection therewith; competition, including the impact of generic
competition on Zanaflex Capsules revenues; failure to protect Acorda
Therapeutics’ 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; the ability
to obtain additional financing to support Acorda Therapeutics'
operations; and, unfavorable results from our research and development
programs. These and other risks are described in greater detail in
Acorda Therapeutics' filings with the Securities and Exchange
Commission. Acorda Therapeutics may not actually achieve the goals or
plans described in its forward-looking statements, and investors should
not place undue reliance on these statements. Forward-looking statements
made in this release are made only as of the date hereof, and Acorda
Therapeutics disclaims any intent or obligation to update any
forward-looking statements as a result of developments occurring after
the date of this press release.
