Biogen in talks to acquire Acorda for multiple sclerosis pill

25 February 2009

Biogen Idec Inc is in talks to acquire Acorda Therapeutics Inc in order to gain control of its extensive pipeline, including an experimental pill for patients with multiple sclerosis, people familiar with the development said.

Acorda is developing an experimental drug, Fampridine, that helped MS patients walk. The pill may be cleared for US sale this year.

Alternatively, Biogen, the world's largest maker of medicines for multiple sclerosis, is also talking about buying rights to market Fampridine, the sources said.

Acorda develops and markets therapies to restore neurological function in people with spinal cord injury, multiple sclerosis and related conditions of the nervous system.

''2008 was a year of exceptional achievement for Acorda. Our recent NDA filing for Fampridine-SR in MS follows the success of our second Phase 3 clinical trial, which was conducted under a special protocol assessment from the FDA. We have initiated pre-launch educational programmes in the US, and are in discussions with potential marketing partners regarding the commercialisation of Fampridine-SR in non-U.S. markets,'' Ron Cohen, MD, president and CEO of Acorda Therapeutics said in a release announcing the company's fourth quarter results. ''In addition, by the end of this year we plan to file an initial investigational new drug application (INDA), for the lead clinical candidate in our neuregulins programme, GGF2, in congenitive heart failure. Having completed two successful financings in 2008, we had a cash balance of $246.0 million as of 31 December, and are well capitalised to execute on our plans through 2010,''  it added.

Cambridge, Massachusetts-based Biogen is vying with Merck KGaA and Novartis AG to market the first pill for multiple sclerosis.