Dalfampridine

Fampyra used to see sales of over $500m in 2017, but sales weakened after generics entered the market. Image credit: Shutterstock / Elena Abrazhevich. Merz Therapeutics has successfully acquired Acorda’s Inbrija (levodopa inhalation powder) and Ampyra (dalfampridine) after the latter went bankrupt earlier this year. The sale was via a “stalking horse” bid, meaning the assets could have gone for more than the $185m opening bid by Merz. These types of bids are used in cases involving bankrupt companies. No competing company joined the auction, however, and Merz closed the transaction at the opening bid value. Merz said the addition of Inbrija and Ampyra, the latter marketed as Fampyra (fampridine) outside of the US, would “immediately add topline revenue” and enhance the biotech’s ability to expedite clinical development of other assets, as per a 10 July press release. Merz’s lead product is Xeomin (incobotulinumtoxinA), used to treat excessive drooling, upper limb spasticity, and cervical dystonia, among others. Inbrija meanwhile is used to treat patients with Parkinson’s disease while Ampyra / Fampyra is approved to help improve walking ability in patients with multiple sclerosis. Merz CEO Stefan König said the deal “strengthens [the company’s] market position in Parkinson’s disease” while “expanding into the multiple sclerosis segment”. See Also: BARDA and Tiba Biotech link to develop ‘flu therapeutics Can a ‘super pill’ help shrink Big Pharma’s climate footprint? Merz also expects to increase its US workforce by more than 50% to support the newly added assets. Inbrija and Fampyra generated global sales of $31m and $73m, respectively, last year. According to GlobalData’s Pharma Intelligence Centre, Fampyra used to see sales of over $500m in 2017. But once it lost exclusivity in 2018, generics flooded the market, and sales weakened. GlobalData is the parent company of Pharmaceutical Technology . Merz forecasts its US business to contribute more than 75% of total global revenues for Inbrija and Fampyra over the next decade. Acorda used to be a big player in the neurodegenerative disorder space up until a few years ago. The formerly listed biotech at one point had $363m to spare when it decided to acquire Finnish biopharma Biotie Therapies , a developer of Parkinson’s disease therapies, in 2016. However, in subsequent years, Acorda struggled financially as sales of its drugs weakened. Biogen , which had a 2009 licence agreement for Fampyra outside the US, returned the rights to Acorda earlier this year. Shares in the company continued to dive and Acorda ultimately filed for bankruptcy, announced via a 1 April press release. In addition, Acorda was delisted from the Nasdaq Stock Market in mid-April, and closed its doors for the final time last month, leaving 97 employees at its New York site out of work.

Trading in Acorda’s stock was suspended on 12 April. Image credit: Shutterstock/NPS_87. Acorda Therapeutics has been delisted from the Nasdaq Stock Market as a result of non-compliance with Nasdaq’s listing rules. Nasdaq listing rules stipulate that companies maintain stockholders’ equity of at least $10m. As Acorda can no longer meet this requirement due to the company’s recent bankruptcy filing earlier this month, trading in the company’s common stock was suspended on 12 April, with Acorda reporting the delisting on 15 April. The absence on Nasdaq caps the company’s journey to the end of the twilight zone. The biotech’s closure date is set for 15 June, leaving the remaining 97 employees at its site in New York without a job, as per a labour notice filing . Over the past decade, Acorda saw success with its drugs for neurological disorders. Inbrija (levodopa inhalation powder) and Ampyra (dalfampridine) — also marketed as Fampyra (fampridine) outside of the US — were the company’s lead assets. Inbrija is used to treat patients with Parkinson’s disease while Ampyra/Fampyra is approved to help improve the walking ability of patients with multiple sclerosis. According to GlobalData’s Pharma Intelligence Centre, Fampyra used to see sales of more than $500m in 2017. However, after losing exclusivity to generics in 2018, Inbrija and Fampyra sales dropped to $31m and $73m respectively in 2023. See Also: Influenza [strains A/H1N1 + A/H3N2 + B/Victoria + B/Yamagata] (quadrivalent, split virion) vaccine by Sinovac Biotech for Seasonal Influenza: Likelihood of Approval INZ-701 by Inozyme Pharma for End-Stage Kidney Disease (End-Stage Renal Disease or ESRD): Likelihood of Approval GlobalData is the parent company of Pharmaceutical Technology. Acorda struggled to balance the books as sales of its drugs weakened. Amid poor drug sales, Biogen, which had a 2009 licence agreement for Fampyra outside the US, exercised an option to the rights to Acorda earlier this year. Acorda responded to financial difficulty by laying off much of its workforce but its share values continued to dive, with a bankruptcy filing occurring in April 2024. Merz Therapeutics, known for its Botox rival Xeomin (incobotulinumtoxinA), swooped in a day later to buy Acorda’s assets , including Inbrija and Ampyra. Merz acted as a “stalking horse” bidder, a type of bid used in cases involving bankrupt companies. As it stands, Merz is set to acquire the therapies for $185m, though this could increase if another bidder comes in at a higher price. The sale process is expected to end in June 2024.