(Updates with stock price movement.)
Biogen Idec(BIIB Quote) received the rights to commercialize a multiple sclerosis drug outside the United States from Acorda Therapeutics(ACOR Quote).
The two entered into an exclusive license and collaboration deal over the drug Fampridine-SR. The experimental pill may help patients with multiple sclerosis improve their ability to walk.
According to a press release, Acorda will get $110 million immediately, with up to $400 million more in payments based on hitting regulatory and sales hurdles. Elan Pharma International, a subsidiary of Dublin's Elan(ELN Quote), which manufactures the drug through an agreement with Acorda, also will receive a fraction of the upfront and milestone payments between Acorda and Biogen. ...
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