So it goes...
Jobs are on the chopping block at Acorda Therapeutics and Alkermes as each company works to cut costs and stay alive. Acorda will lay off about one-quarter of its employees, while Alkermes will cut 160 jobs.
Acorda will cut about 25% of its staffers, starting “immediately,” the company said Wednesday. The plan, which is set to conclude in the first quarter of 2020, aims to reduce costs and allow Acorda to throw the resources it has behind the launch of Parkinson’s disease med Inbrija. The d–g, an inhaled form of levodopa, earned the FDA nod last December to treat so-called “off” episodes during which Parkinson’s symptoms return between doses of standard treatment carbidopa/levodopa.
In January this year, the company moved its entire sales force for multiple sclerosis d–g Ampyra over to Inbrija. Though Ampyra is still raking in $38 million per quarter in spite of generic competition, “investors don't want to give much credit as it's a generic and could fall,” wrote Jefferies analyst Michael Yee in a note.