Acorda Therapeutics announced that it has filed to begin Chapter 11 bankruptcy proceedings and said that Merz Therapeutics will serve as a “stalking horse” bidder for Acorda’s assets, including the rights to Inbrija inhaled dry powder levodopa. Other potential buyers can submit bids for the company’s assets, with the court-supervised sale expected to be completed by mid-2024. If approved by the court, Acorda says, the company will continue normal operations through completion of the sale.
Inbrija was approved by the FDA for the treatment of OFF episodes in Parkinson’s disease patients in December 2018, and The EMA approved the Inbrija DPI for the treatment of OFF episodes in 2019. Acorda launched Inbrija in the US in 2019 and various companies have acquired rights to the DPI in other markets, including Esteve in several European countries, Chance Pharmaceuticals in China, and Biopas in some South and Central American countries.
Acorda sold the Inbrija manufacturing facility to Catalent in 2021 and signed a new supply agreement with Catalent in early 2023 that reduced the amount of Inbrija that Acorda was required to purchase.
Acorda CEO and President Ron Cohen commented, “Acorda’s management team and board have evaluated all of our strategic options, and following an exhaustive process believe that this option is in the best interest of stakeholders. One of our top priorities is to ensure an uninterrupted supply of our medications to people with multiple sclerosis and Parkinson’s disease. We are confident that Merz Therapeutics, if they are the ultimate acquirer, will be able to seamlessly continue serving these patients’ needs, given Merz’s longstanding dedication to improving the lives of people who suffer from movement disorders and other neurological conditions.”
Read the Acorda Therapeutics press release.
