Benzinga | Jul 23, 2021 07:17AM EDT

Acorda Therapeutics Shares Gains On Spain Distribution Pact For Parkinson's Med

* Acorda Therapeutics Inc (NASDAQ:ACOR) has entered into distribution and supply agreements with Esteve Pharmaceuticals S.A. to commercialize Inbrija 33 mg (levodopa inhalation powder, hard capsules) in Spain.

* Inbrija is indicated in the E.U. for the intermittent treatment of episodic motor fluctuations (OFF episodes) in adult patients with Parkinson's disease treated with a levodopa/dopa-decarboxylase inhibitor.

* Under the terms of the supply agreement, Acorda will receive a double-digit percentage of the selling price of Inbrija.

* Esteve has exclusive distribution rights to Inbrija in the territory, and it will launch the product in Spain in Q4 of 2022.

* Price Action: ACOR shares are up 49.3% at $5.69 during the premarket session on the last check Friday.