ACOR - Acorda wins $16.5M in Ampyra arbitration case with Alkermes

• Acorda Therapeutics ( NASDAQ: ACOR ), a biotech focused on neurological disorders, announced Sunday that a panel of arbitrators awarded it $16.5M from Alkermes ( ALKS ) in connection with a licensing dispute between the two over multiple sclerosis therapy Ampyra. ACOR shares added ~46% pre-market on Monday in reaction to the news.
• The decision comes after ACOR sought the intervention of the American Arbitration Association in July 2020 following a dispute with ALKS with the expiration of an Ampyra patent in 2018.
• The ruling requires ALKS to pay $15M and $1.5M as prejudgment interest to ACOR. In addition, ACOR will be free to use alternative supplies of Ampyra and will not have to pay ALKS any royalties on net sales for licensing and supplies.
• Also known as dalfampridine, Ampyra is marketed as Fampyra outside the U.S. by Biogen ( BIIB ). The extended-release tablet formulation is indicated in the U.S. to improve walking in adults with multiple sclerosis.
• In 2021, ACOR generated $84.6M of net revenue from Ampyra in the U.S.

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