Catalent will pay Acorda Therapeutics $80 million cash for Acorda’s manufacturing operations in Chelsea, MA, USA where the company makes Inbrija dry powder levodopa. According to Catalent, the 90,000 sq ft CGMP facility “will act as a global center of excellence within the Catalent network for spray-dried dispersion and dry powder encapsulation and packaging.”
Under the agreement, Catalent will manufacture Inbrija for Acorda. All of the Acorda employees at the Chelsea facility, as well as some additional Acorda employees, will join Catalent, and Acorda will also lay off employees, reducing its work force by 16%.
Acorda President and CEO Ron Cohen commented, “Today’s announcements represent important steps in our ongoing efforts to strengthen our capital structure, enhance our operating efficiency and position Acorda to drive long-term value for our shareholders. Through the sale of the Chelsea operations we are monetizing our excess manufacturing capacity and significantly reducing expenses. This will ensure that our patients have uninterrupted access to Inbrija, while meaningfully improving both our balance sheet and P&L.”
Catalent President of Oral and Specialty Delivery Jonathan Arnold said, “Catalent is a premier partner to companies working on multiple forms of inhaled drug delivery, from early-stage development to commercial-scale supply. This acquisition complements our existing US-based capabilities in metered dose and nasal inhalation by adding an experienced team of people and a premier facility enabling us to provide customers with extended capabilities for commercial scale filling and packaging of dry powder inhalers.”
Inbrija was approved by the FDA in December 2018 for the treatment of OFF episodes in Parkinson’s disease patients taking carbidopa/levodopa, and Acorda launched Inbrija in the US in February 2019.
Read the Acorda Therapeutics press release.
Read the Catalent press release.
