Acorda Therapeutics To Reduce Headcount; Names Lauren Sabella COO - Quick Facts

(RTTNews) - Acorda Therapeutics, Inc. (ACOR) said it is reducing headcount by 15%. The company estimates it will incur approximately $3.0 million of pre-tax charges for severance and other costs related to the restructuring, through the first quarter of 2022. Beginning in 2022, the company expects to realize annualized cost savings of approximately $20 million from the headcount reductions and the outsourcing of certain operations.

"The headcount reductions and structural changes will enable us to operate more efficiently and further align our expenses with revenue, while continuing to grow Inbrija sales," said Ron Cohen, Acorda's CEO.

Acorda Therapeutics also announced the appointment of Lauren Sabella, currently Chief Commercial Officer, as Chief Operating Officer. Kerry Clem, Executive Vice President of Sales, Market Access, and Operations, has been named Chief Commercial Officer.