Hawthorne-based Acorda receives second $5M payment

February

Acorda Therapeutics of Hawthorne said this morning it has received a second $5 million payment as part of its agreement with an affiliate of Paul Capital Healthcare.

The agreement called for the company to receive $10 million to increase the staff of people selling Zanaflex Capsules from 32 to 65. The company received the payment for meeting certain sales goals last year.

The drug treats spasticity, a disorder in which muscles are continuously contracted.

Acorda’s shares closed yesterday at $19.13, up 32 cents.

This entry was posted on Wednesday, February 7th, 2007 at 10:23 am by Allan Drury.
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