Acorda Therapeutics Announces Management Changes

ARDSLEY, N.Y.–(BUSINESS WIRE)–Acorda Therapeutics, Inc. (NASDAQ:ACOR)
today announced that Andrew Hindman, Chief Business Officer, will
transition out of the Company over the coming months.

“We thank Andrew for his many contributions to Acorda over the past five
years. One of his first achievements was helping to lead Acorda’s
acquisition of Civitas and INBRIJA, which was transformational for the
Company,” said Ron Cohen, M.D., Acorda’s President and CEO. “Andrew is
interested in pursuing opportunities in the wider biopharma industry.
While we will miss him, we support his ambitions. He graciously has
agreed to remain with Acorda for several months to ensure an orderly
transition.”

“I’m proud to have contributed to the strategic evolution of Acorda over
the last five years,” said Mr. Hindman. “The approval of INBRIJA cements
Acorda’s leadership in Parkinson’s disease, and also validates the ARCUS
Technology as an innovative platform with potential to enable delivery
of medications by inhalation.”

Throughout the transition period, Mr. Hindman will continue to work on
Acorda’s business development, including evaluating ex-US commercial
partnerships for INBRIJA. Acorda filed a Marketing Authorization
Application, or MAA, with the European Medicines Agency, or EMA, in
March 2018, and expects a final decision before the end of 2019.

INBRIJA was approved by the U.S. Food and Drug Administration, or FDA,
on December 21, 2018 for the intermittent treatment of OFF episodes in
adults with Parkinson’s disease treated with carbidopa/levodopa. INBRIJA
currently is available by prescription in the U.S.

Acorda expects to recruit from outside the company to fill Mr. Hindman’s
position. In the interim, Dr. Cohen will continue to be the Company’s
lead investor relations spokesperson, and members of Acorda’s senior
executive team will support its business development, financial planning
and alliance management processes.

About Acorda Therapeutics

Acorda Therapeutics develops therapies to restore function and improve
the lives of people with neurological disorders. INBRIJA™ (levodopa
inhalation powder) is approved for intermittent treatment of OFF
episodes in adults with Parkinson’s disease treated with
carbidopa/levodopa. INBRIJA is not to be used by patients who take or
have taken a nonselective monoamine oxidase inhibitor such as phenelzine
or tranylcypromine within the last two weeks. INBRIJA utilizes Acorda’s
innovative ARCUS® pulmonary delivery system, a technology platform
designed to deliver medication through inhalation. Acorda also markets
the branded AMPYRA® (dalfampridine) Extended Release Tablets, 10 mg.

Forward-Looking Statements

This press release includes forward-looking statements. All statements,
other than statements of historical facts, regarding management’s
expectations, beliefs, goals, plans or prospects should be considered
forward-looking. These statements are subject to risks and uncertainties
that could cause actual results to differ materially, including: we may
not be able to successfully market Inbrija or any other products under
development; risks associated with complex, regulated manufacturing
processes for pharmaceuticals, which could affect whether we have
sufficient commercial supply of Inbrija to meet market demand; third
party payers (including governmental agencies) may not reimburse for the
use of Inbrija or our other products at acceptable rates or at all and
may impose restrictive prior authorization requirements that limit or
block prescriptions; competition for Inbrija, Ampyra and other products
we may develop and market in the future, including increasing
competition and accompanying loss of revenues in the U.S. from generic
versions of Ampyra (dalfampridine) following our loss of patent
exclusivity; the ability to realize the benefits anticipated from
acquisitions, among other reasons because acquired development programs
are generally subject to all the risks inherent in the drug development
process and our knowledge of the risks specifically relevant to acquired
programs generally improves over time; we may need to raise additional
funds to finance our operations and may not be able to do so on
acceptable terms; the risk of unfavorable results from future studies of
Inbrija (levodopa inhalation powder) or from our other research and
development programs, or any other acquired or in-licensed programs ;
the occurrence of adverse safety events with our products; the outcome
(by judgment or settlement) and costs of legal, administrative or
regulatory proceedings, investigations or inspections, including,
without limitation, collective, representative or class action
litigation; failure to protect our intellectual property, to defend
against the intellectual property claims of others or to obtain third
party intellectual property licenses needed for the commercialization of
our products; and failure to comply with regulatory requirements could
result in adverse action by regulatory agencies.

These and other risks are described in greater detail in our filings
with the Securities and Exchange Commission. We may not actually achieve
the goals or plans described in our forward-looking statements, and
investors should not place undue reliance on these statements.
Forward-looking statements made in this press release are made only as
of the date hereof, and we disclaim any intent or obligation to update
any forward-looking statements as a result of developments occurring
after the date of this press release.

Contacts

Felicia Vonella
Vice President, Investor Relations
(914)
326-5146
[email protected]

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