The New York-based company manufactures Inbrija, an inhaler that is FDA approved for Parkinson’s disease symptoms. Merz Therapeutics agreed to purchase Acorda’s assets for $185 million in a “stalking horse” agreement.
Acorda said it decided to file for bankruptcy after reviewing multiple strategic options, according to a news release.
In 2019, the company was at high risk of bankruptcy. The following year, the drugmaker’s employees voted favorably of the workplace, according to a survey conducted by Fortune and analytics firm Great Place to Work. Compared to other biopharma companies, Acorda was ranked No. 6 for its positive work environment.
The bankruptcy proceedings are expected to finalize in June.
At the Becker's 11th Annual IT + Revenue Cycle Conference: The Future of AI & Digital Health, taking place September 14–17 in Chicago, healthcare executives and digital leaders from across the country will come together to explore how AI, interoperability, cybersecurity, and revenue cycle innovation are transforming care delivery, strengthening financial performance, and driving the next era of digital health. Apply for complimentary registration now.
