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Biogen Idec and Acorda sign $500 million-plus MS drug deal
August 2009
SHARING OPTIONS:

CAMBRIDGE, Mass.Biogen Idec and Acorda Therapeutics announced July 1 that they will collaborate on Fampridine-SR, a novel, oral sustained-release compound being developed to improve walking ability in people with multiple sclerosis, in markets outside the United States. Biogen Idec will assume clinical and regulatory responsibilities for and commercialize Fampridine-SR and any aminopyridine products developed under the agreement in ex-U.S. markets worldwide. Biogen Idec will pay Acorda an upfront payment of $110 million, up to $400 million in regulatory and sales milestone payments and tiered, double-digit royalty payments. The door is also open for the companies to carry out future joint development activities under a cost-sharing arrangement.

The deal also involves a sublicensing of an existing license agreement between Acorda and Elan Pharma International Ltd., a subsidiary of Elan Corp. PLC.
 

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