Acorda Therapeutics Inc. (NASDAQ: ACOR) jumped 24.15% after the company announced the signing of supply and distribution agreements for INBRIJA commercialization in Spain.
ESTEVE to distribute INBRIJA in Spain
The company and Esteve Pharmaceuticals S.A entered the commercialization deal to distribute levodopa inhalation powder, INBRIJA, in the country. Currently, levodopa is indicated in the European Union for intermittent episodic motor fluctuations (OFF episodes) in Parkinson’s disease patients treated with levodopa inhibitor. However, INBRIJA should not be used in patients taking or that have taken nonselective monoamine oxidase inhibitor like tranylcypromine or phenelzine within the past two weeks. The drug uses Acorda’s proprietary ARCUS pulmonary delivery platform, which allows delivery of medication via inhalation.
As per the agreement terms, Acorda will supply INBRIJA to ESTEVE, which will have exclusive distribution rights to the drug in the territory. ESTEVE is planning to launch INBRIJA in the country in Q4 2022. In return, under the terms, Acorda will receive a double-digit percentage of INBRIJA selling price in Spain for its supply of the drug.
More than 300,000 people in Spain have Parkinson’s disease
Current population estimations indicate that there are around 300,000 people in Spain living with Parkinson’s disease. Each year there is at least one case in every 10,000 people, and the prevalence and incident rates are consistent with those in the rest of the region.
Acorda Therapeutics CEO Ron Cohen said, “We are delighted to enter a partnership with ESTEVE to make INBRIJA available in Spain. This is great news for people with Parkinson’s in Spain who are in need of therapies to treat their OFF periods. ESTEVE has an impressive track record of successfully commercializing pharmaceuticals in Europe for neurological and other indications. We are also in active discussions with additional companies for the rights to INBRIJA in other countries in Europe and the rest of the world.”