Acorda Therapeutics Confirms It Entered Into A Patent Litigation Settlement Deal With Par Pharma

Acorda Therapeutics Inc (NASDAQ: ACOR) accused one of its rivals, Par Pharmaceutical, of infringing patents related to its multiple sclerosis treatment drug called Ampyra (dalfampridine) back in September, 2015.

Par Pharmaceutical was seeking marketing approval from the FDA for its generic version of Ampyra.

Acorda Therapeutics confirmed in a regulatory filing on Wednesday that it reached a settlement agreement with Par Pharmaceutical. As part of the settlement, Par Pharmaceutical will be permitted to market its generic drug but only in 2027, or potentially sooner under certain circumstances.

Acorda Therapeutics also noted in its regulatory filing that " the settlement with Par does not resolve pending patent litigation brought by the Company against other parties who have submitted Abbreviated New Drug Applications to the FDA seeking marketing approval for generic versions of Ampyra."

Shares of Acorda Therapeutics were trading flat at $37.99 15 minutes ahead of Thursday's opening bell.