Acorda sells production facility to Catalent for $80 million
Struggling biotech Acorda Therapeutics (Nasdaq: ACOR) has announced plans to sell a manufacturing site for one of its key assets, as part of a restructuring plan aimed at keeping the ship afloat.
In 2019, Acorda lost a lengthy court battle aimed at protecting multiple sclerosis drug Ampyra (dalfampridine) from generic competition, threatening the firm’s financial future.
Now, as the CNS specialist continues to lose cash, it hopes a structural overhaul - the third in as many years - can help turn things around.
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