ACOR - Acorda Therapeutics and Hangzhou Chance Pharmaceuticals join forces to introduce Parkinson's disease therapy in China; shares surge by 7%
2023-05-08 09:48:32 ET
- Acorda Therapeutics ( NASDAQ: ACOR ) and Hangzhou Chance Pharmaceuticals announced a distribution and supply agreement for INBRIJA in China.
- ( ACOR ) is up 7% . INBRIJA is used in the United States for treating adult patients with Parkinson's disease ( PD ) with intermittent motor fluctuations (OFF episodes) while taking levodopa/dopa-decarboxylase inhibitors.
- The agreements include an up-front payment of $2.5M, a near-term milestone payment of up to $6M, $3M upon regulatory approval, up to $132.5M in sales milestones, and a fixed fee for each INBRIJA carton provided to Chance.
- Chance intends to obtain regulatory clearance as soon as possible . As of 2030, China is estimated to have about 5 million individuals with Parkinson’s disease, owing to its aging population.
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Acorda Therapeutics and Hangzhou Chance Pharmaceuticals join forces to introduce Parkinson's disease therapy in China; shares surge by 7%