Tuesday, June 7, 2011

Acorda Therapeutics Surges On Takeover Speculation

Shares of Acorda Therapeutics, Inc. (NASDAQ: ACOR) rallied more than 3% Tuesday after Biogen Idec Inc.'s (NASDAQ: BIIB) research chief said that the world’s largest maker of multiple sclerosis medicines is on the hunt for new compounds to treat MS and other neurodegenerative diseases, and may purchase companies outright or partner with them. Acorda Therapeutics, Inc. develops therapies for multiple sclerosis, spinal cord injury, and other nervous system disorders. Its marketed products include Ampyra (dalfampridine), a potassium channel blocker for improving walking in patients with multiple sclerosis; and Zanaflex Capsules and Zanaflex tablets (tizanidine hydrochloride), a short-acting drug for the management of spasticity. Stray tuned for more.

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