- Acorda Therapeutics ( NASDAQ: ACOR ) on Thursday said it had entered into a new long-term global supply agreement with Catalent ( NYSE: CTLT ) for its inhalation powder Inbrija.
- As per the agreement, CTLT will continue to make Inbrija through 2030.
- Acorda's ( ACOR ) Inbrija is an approved treatment for the return of symptoms of Parkinson's disease between regular medication.
- "The new agreement includes the scale-up to the larger pharma grade spray-dryer at a PSD-7 scale, which will provide expanded capacity for the long-term world-wide manufacturing requirements of Inbrija," ACOR said in a statement .
- Under the new supply agreement, ACOR will be required to buy $8.5M in Inbrija supply from CTLT this year and $15.5M in 2024, reduced from $18M annually.
- ACOR will also pay CTLT an $8M termination fee in connection with the termination of their previous global supply agreement.
- Catalent ( CTLT ) shares earlier closed -0.6% at $46.16, while Acorda ( ACOR ) ended -10.9% at $0.71.
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Acorda strikes new global supply deal with Catalent for its inhalation powder Inbrija