Acorda Shares Fall as Court Denies Injunction Request in Patent Case -- Market Mover
26 July 2018 - 4:36AM
Dow Jones News
Acorda Therapeutics Inc. (ACOR) were down 14.8%, to $24.45,
Wednesday afternoon as a federal appeals court denied the company's
motion for an injunction in its patent litigation with generic drug
companies. In 2017, after a district court upheld one patent for
multiple sclerosis treatment Ampyra, but invalidated four others,
Acorda said it would cut about 20% of its workforce. If the appeals
court doesn't overturn the district court's decision by July 30,
"multiple generic drug manufacturers may decide to launch at-risk
generic versions of Ampyra," the company said in a filing.
(josh.beckerman@wsj.com)
(END) Dow Jones Newswires
July 25, 2018 14:21 ET (18:21 GMT)
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