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 The leading web portal for pharmacy resources, news, education and careers November 21, 2017
Pharmacy Choice - Pharmaceutical News - Generic Competitors A Looming Threat For Acorda Therapeutics Inc (NASDAQ:ACOR) - November 21, 2017

Pharmacy News Article

 2/16/17 - Generic Competitors A Looming Threat For Acorda Therapeutics Inc (NASDAQ:ACOR)

In order to ensure an extension of its Ampyra's protection to 2026, Acorda Therapeutics Inc (NASDAQ:ACOR) must fight off competition from competitors such as Roxane, Teva Pharmaceutical Industries Ltd (ADR) (NYSE:TEVA), and Mylan as well as ensure it keeps its patents. This is according to Michael Yee, an RBC analyst.

Ten companies have been sued by Acorda to stop them from filing generic versions of its MS drug, Ampyra and the decision over whether Acorda will get to retain any or all of the drug's patents is still being awaited. In the first case, the decision could be made any day now while in the second case the decision might not be made until mid-March.

If they lose either court case or inter partes review case, then Ampyra could see generics enter in 2018 since the court case defines if generics are infringing and the IPR defines if they can even keep the patent, a research report written by Michael Yee read.

Fall in EPS

On Tuesday, Acorda's financial results for the fourth quarter of 2016 showed sales figures of $140.6 million. This was a 7.4 percent rise year-on-year and beat consensus estimates of $138.7 million. Earnings per share, however, fell by 82 percent when they came in at 5 cents while estimates had expected 10 cents.

In the earnings call, analysts focused on the ongoing litigation concerning Ampyra. Some analysts even wondered whether Ampyra should be included in their models for 2017.

Ongoing litigation casts a dark shadow

Acorda's sales projections for 2017 range between $535 million and $545 million. If Acorda loses either of the cases in the ongoing litigation, it will adjust the projections accordingly. Most analysts say the outcome of the litigation is hard to predict.

Despite the dark shadows looming over the biotech firm, Acorda has a drug for treating Parkinson's lined up, CVT-301, which is expected to get approval from the U.S. Food and Drug Administration sometime in 2018. Results from the phase three trial of the drug which were released last week were largely positive.

On Tuesday, shares of Acorda Therapeutics Inc shot up by 6.5 percent to close the day at $25.40.

The post Generic Competitors A Looming Threat For Acorda Therapeutics Inc (NASDAQ:ACOR) appeared first on Market Exclusive.

© Market Exclusive 2017

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