Acorda Therapeutics (NSDQ:ACOR) announced today that its chief of business operations, David Lawrence, is resigning from the company.
Lawrence, who also serves as Acorda’s principal accounting and financial officer, is resigning effective mid-March 2021 as he is set to take a leadership position at an early-stage biotechnology company, according to a news release.
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Catalent (NYSE:CTLT) has entered into a definitive agreement to purchase a dry-powder inhaler (DPI) capsule manufacturing and packaging facility from Acorda Therapeutics (NSDQ:ACOR).
The acquisition will enable Catalent to establish a center of excellence for spray-dried dispersion for DPI capsule manufacturing. The transaction will also expand Catalent’s existing U.S.-based commercial-scale capabilities in metered-dose inhalers and nasal inhalation technologies.
Under the terms of the deal, Catalent will acquire Acorda Therapeutics’ 90,000-ft2 CGMP facility in Chelsea, Mass., near Boston Logan International Airport. The site houses GEA NIRO PSD-1, PSD-4 and PSD-7 spray-drying units.
The transaction is subject to the customary closing conditions. The companies anticipate that the transaction will be finalized in the first quarter of the year. Once the deal is finalized, Acorda Therapeutics’ workforce at the facility will become Catalent employees.
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