Thursday, July 11, 2013

Acorda expands into the field of neuropathic pain management - Acquires a marketed dermal patch and a Phase 3 topical solution from NeurogesX

With a view to build its presence in neuropathic pain segment, Acorda has acquired two drugs from NeurogesX, a specialty pharmaceuticals company. The drugs acquired includes

1) Qutenza® -A prescription-strength dermal patch-based 8% capsaicin product that is currently approved in the U.S. for treatment of neuropathic pain, 
2) NP-1998 (formerly NGX-1998), a Phase 3-ready topical solution-based candidate containing 20% capsaicin.

Acorda acquired the North American, Latin American and other territorial rights to Qutenza® and NP-1998 for total upfront consideration of $7mm, plus $900,000 in assumed accounts payable. In addition, Acorda agreed to up to $5mm in future payments contingent upon the achievement of certain milestones

In 2011, Qutenza generated $2.6mm in total net sales and in 2012 NeurogesX stopped actively promoting it.

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