Acorda Announces $16.5 Mln Award And Royalty/Supply Relief In AMPYRA Arbitration Case With Alkermes

(RTTNews) - Acorda Therapeutics Inc. (ACOR) said that a three-judge arbitration panel has issued a final decision in a dispute with Alkermes PLC or ALKS regarding licensing royalties relating to AMPYRA (dalfampridine). Acorda was awarded $15 million plus prejudgment interest of $1.5 million from Alkermes.

In addition, as a result of the panel's ruling, Acorda will no longer have to pay Alkermes any royalties on net sales for license and supply of AMPYRA. Acorda is now free to use alternative sources for supply of AMPYRA, which the Company has already secured.

Acorda said it filed an arbitration demand with the American Arbitration Association in July 2020 after the parties were unable to resolve their dispute over license and supply royalties following the 2018 expiration of an Alkermes patent relating to AMPYRA.