Acorda Therapeutics, Inc.
) recently added two neuropathic pain management assets to its
portfolio. The company acquired these assets, Qutenza and NP-1998
(formerly known as NGX-1998), from
Financial and Other Details
Acorda made a payment of about $8 million in return for the
development and commercialization rights for Qutenza and NP-1998
in the US, Canada, Latin America and certain other territories.
Acorda may pay up to another $5 million on the achievement of
NP-1998 related regulatory and sales milestones.
Exclusive commercialization rights for Qutenza in the European
Economic Area (EEA), certain countries in Eastern Europe, the
Middle East and Africa lie with Astellas Pharma Europe Ltd., the
European subsidiary of
Astellas Pharma, Inc.
). Astellas may also exercise an option to develop NP-1998 in the
While Qutenza is approved in the US for the management of
neuropathic pain associated with postherpetic neuralgia, NP-1998
is being evaluated for the treatment of neuropathic pain.
Qutenza, which was approved in the US in 2010, posted sales of
$2.6 million in 2011. NeurogesX stopped promoting the product
actively from Mar 2012. Acorda intends to use its existing
commercial organization, including its specialty neurology sales
force of about 100 sales reps, for promoting Qutenza.
Qutenza is also being evaluated as a treatment of pain
associated with painful diabetic neuropathy by Astellas. It is
currently in phase III development for this indication and Acorda
has the right to review data from this study. Astellas and Acorda
have the option to collaborate and/or split costs associated with
We are encouraged by Acorda's efforts to expand its product
portfolio and pipeline. The company has been looking towards
in-licensing deals and acquisitions to expand its pipeline. In
Dec 2012, Acorda acquired Neuronex and added diazepam nasal spray
(management of seizure in certain epilepsy patients) to its
Acorda currently carries a Zacks Rank #3 (Hold). At present,
) looks well-positioned with a Zacks Rank #1 (Strong Buy).
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