Acorda Therapeutics, Inc.
) recently disclosed unaudited sales of Ampyra (dalfampridine)
extended release tablets, 10 mg for the fourth quarter and full
year 2012. Acorda announced that the Ampyra revenues were
approximately $73 million in the fourth quarter of 2012, up 4.6%
from the previous quarter. Total Ampyra sales in 2012 were $266
million, up approximately 26% year over year.
ACORDA THERAPT (ACOR): Free Stock Analysis
ALLERGAN INC (AGN): Free Stock Analysis
NOVO-NORDISK AS (NVO): Free Stock Analysis
NOVARTIS AG-ADR (NVS): Free Stock Analysis
To read this article on Zacks.com click here.
The company expects Ampyra revenues in the range of $285 million
- $315 million. Ampyra is available outside the US under the
trade name Fampyra. Fampyra and Zanaflex revenues are expected to
be $25 million. Cash flow is expected to be positive in 2013.
Acorda also issued guidance for 2013 sales, general and
administrative (SG&A) expense and research and development
(R&D) expense. While former is expected in the range of $170
million - $180 million, the latter is expected in the range of
$60 million - $70 million.
Currently, Acorda is preparing to submit a 505(b)(2) type new
drug application (NDA) for diazepam nasal spray for the
management of seizure in certain epilepsy patients. The company
plans to submit the regulatory application to the FDA towards the
end of 2013.
The company stated that Ampyra is also being studied for other
indications including cerebral palsy (phase II proof-of-concept
study ongoing with results expected by second quarter 2013) and
post-stroke deficits (phase II proof-of-concept study ongoing
with results due in the second quarter of 2013).
Though sales of the company's key product Ampyra have improved in
the past few quarters, it remains to be seen whether the
performance is sustainable. Moreover, we remain concerned about
the company's dependence on Ampyra for growth. We prefer to
remain on the sidelines until we see a sustained improvement in
Consequently, we maintain a Neutral recommendation on Acorda. The
stock carries a Zacks #3 Rank (Hold) in the short run.
Pharma stocks that currently look attractive include companies
). Each of these companies carry a Zacks #2 Rank (Buy).