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Acorda sales grow, loss widens

May
5

Acorda Therapeutics Inc., the pharmaceutical company in Hawthorne, reported this morning that it lost $16.43 million, or 54 cents a share, during the first quarter, compared with a loss of $7.5 million, or 32 cents, a year earlier.

Net sales of the company’s product, Zanaflex, grew to $11.49 million from $8.31 million.

Zanaflex is a treatment for involuntary muscle movements caused by multiple sclerosis and spinal injuries. The company is also seeking to develop Fampridine-SR, which would also be for people with multiple sclerosis.

Research and development expenses rose to $9.59 million from $3.24 million. Sales and marketing expenses rose to $10.2 million from $6.97 million.

Acorda shares were trading at $21.79 this morning, up 3 cents.

This entry was posted on Monday, May 5th, 2008 at 9:41 am by Allan Drury.
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Business in the Burbs is our online news blog about businesses based or operating in the Lower Hudson Valley. Visitors here will also find items of interest to consumers in the region. Most contributions are from business reporters and editors covering Westchester, Rockland and Putnam counties.

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