Actionable news
All posts from Actionable news
Actionable news in ACOR: Acorda Therapeutics, Inc.,

Acorda Therapeutics investor calls for company to explore sale

Aug 7 (Reuters) - A New York-based hedge fund which owns 17 percent of Acorda Therapeutics Inc called on the U.S. developer of drugs targeting neurological disorders on Monday to explore a sale of the company, according to a regulatory filing with the U.S. Securities and Exchange Commission.

Pressure on Acorda to pursue a sale comes after a judge last March struck down key patents of its multiple sclerosis drug Ampyra, which accounts for almost all of its revenue. This means Ampyra could face generic competition as early as next year.

Scopia Capital Management LP published a letter it had sent to Acorda's board of directors on Monday informing the company that it had accumulated a 17 percent stake and requesting the appointment of a special committee of independent directors to oversee "a review of all strategic alternatives to maximize value," including a sale.

"We are highly confident that...