pharma, deals, Biogen
Biogen Gets Int’l Rights to Acorda’s MS Drug
Roxanne Palmer 7/1/09
Cambridge, MA drug giant Biogen Idec (NASDAQ:BIIB) and Hawthorne, NY-based Acorda Therapeutics (NASDAQ:ACOR) announced today that Biogen Idec has acquired the rights to develop and commercialize Acorda’s multiple sclerosis drug, Fampridine-SR, in markets outside the U.S. Acorda will receive an upfront payment of $110 million and additional payments of up to $400 million, and retains commercialization rights to Fampridine-SR in U.S. markets. The deal increases the Cambridge company’s MS drug footprint, which already includes Biogen drugs Avonex and Tysabri. The latter drug has come under scrutiny recently for its link to a severe brain infection called progressive multifocal leukoencephalopathy, or PML.
Roxanne is an intern in Xconomy's Boston office. You can reach her at rpalmer@xconomy.com.
