PEARL RIVER, NY–(BUSINESS WIRE)–Acorda Therapeutics, Inc. (Nasdaq: ACOR) today announced that Lauren Sabella, Chief Operating Officer, will be stepping down from the company effective September 30, 2022. Ms. Sabella will assume a strategic advisory position for Biotechnology in the start-up phase of companies.
“We are grateful for Lauren’s thirteen years of contribution as a member of Acorda’s leadership team. Initially, she and her team led the commercial launch of AMPYRA, a new treatment for multiple sclerosis. The tremendous success of this product has enabled Acorda to invest in additional clinical development programs, including INBRIJA for Parkinson’s disease,” said Ron Cohen, MD, President and CEO of Acorda. “Lauren has been an outstanding leader at Acorda; We will miss her and wish her a fulfilling next chapter in her career.
“I am honored to have been part of the Acorda team. I am especially proud to know that the FDA-approved products we have brought to market have helped so many people with multiple sclerosis and Parkinson’s disease,” said Ms. Sabella. “I am also proud to have groomed outstanding senior executives to help guide Acorda’s success going forward.”
Ms. Sabella’s responsibilities will be assumed by two of her current direct reports, Sofia Ali, Senior Vice President, Operations and Strategic Planning and Susan Way, Senior Vice President, Drug Development and Regulatory Affairs.
About Acorda Therapeutics
Acorda Therapeutics develops therapies to restore function and improve the lives of people with neurological disorders. INBRIJA is approved for the intermittent treatment of OFF episodes in adults with Parkinson’s disease treated with carbidopa/levodopa. INBRIJA should not be used by patients who are taking or have taken a non-selective monoamine oxidase inhibitor such as phenelzine or tranylcypromine within the past two weeks. INBRIJA uses Acorda’s innovative ARCUS® pulmonary delivery system, a technology platform designed to deliver medication by inhalation. Acorda also markets the AMPYRA brand® (dalfampridine) Extended Release Tablets, 10 mg.
This press release contains forward-looking statements. All statements, other than statements of historical fact, regarding management’s expectations, beliefs, objectives, 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 commercialize AMPYRA, INBRIJA or any other products under development; the COVID-19 pandemic, including related restrictions on in-person interactions and travel, and the potential for illness, quarantines and vaccination mandates affecting our management, employees or consultants or those working for other companies that we rely on, could have a material adverse effect on our business operations or product sales; our ability to attract and retain key executives and other personnel, or maintain access to expert advisors; our ability to raise additional funds to fund our operations, repay outstanding debt or meet other obligations, and our ability to control our costs or reduce planned expenses; the risks associated with trading our common stock, including the potential delisting of our common stock from the Nasdaq Global Select Market and actions we may take, such as a reverse stock split, to attempt to maintain such listing; risks related to our corporate restructurings, including our ability to outsource certain operations, achieve anticipated cost savings and maintain the workforce necessary to continue operations; risks associated with complex and regulated manufacturing processes for pharmaceuticals, which could affect whether we have sufficient commercial supply of INBRIJA to meet market demand; our reliance on third-party manufacturers for the production of AMPYRA and INBRIJA commercial supplies; third-party payers (including government agencies) may not reimburse for use of INBRIJA at acceptable rates or at all and may impose restrictive pre-authorization requirements that limit or block prescriptions; reliance on collaborators and distributors to market INBRIJA and AMPYRA outside of the United States; competition for INBRIJA and AMPYRA, including increased competition and accompanying loss of revenue in the United States from generic versions of AMPYRA (dalfampridine) following the loss of the exclusivity of the patent; the ability to realize the expected benefits of acquisitions because, among other reasons, acquired development programs are generally subject to all of the risks inherent in the drug development process and our knowledge of the risks specifically associated with acquired programs generally improves with the time ; the risk of adverse results from future studies of INBRIJA (levodopa powder for inhalation) or other research and development programs, or any other programs acquired or licensed; the occurrence of adverse security events with our products; the outcome (whether by judgment or settlement) and costs of judicial, administrative or regulatory proceedings, investigations or inspections, including, without limitation, class, representative or class action litigation; failure to protect our intellectual property, defend against intellectual property claims of others, or obtain third party intellectual property licenses necessary to market our products; and failure to comply with regulatory requirements could result in adverse action by regulators.
These and other risks are described in more detail in our filings with the Securities and Exchange Commission. We may not achieve the objectives or plans described in our forward-looking statements, and investors should not place undue reliance on such statements. The forward-looking statements made in this press release speak only as of the date hereof, and we disclaim any intention or obligation to update any forward-looking statements as a result of developments occurring after the date of this press release, except if it may be required by law.