Earnings In Brief
Executive Summary
Acorda's Ampyra sales best Wall Street expectations: The firm reported $29.7 million worth of Ampyra has shipped to its network of specialty pharmacies, which is how Acorda books sales, during its first full quarter of sales. FDA approved Ampyra (dalfampridine) in January to improve walking ability in multiple sclerosis patients, and Acorda launched it in March. In its second-quarter earnings call, Acorda said 4,200 doctors have now prescribed the drug. Ampyra's strength helped Acorda beat analyst estimates handily, posting a loss of 18 cents rather than the expected 46 cents. The firm's sales totaled $43.4 million, which also included $13.7 million in gross sales of anti-spasticity drug Zanaflex. The company is looking to in-license a development-stage neurology drug by the end of 2010. A Phase I trial for a remyelination agent, expected to begin this summer, has been delayed due to a vial-filling issue