Acorda Therapeutics says FDA rejects epilepsy drug

Acorda Therapeutics Inc said the Food and Drug Administration rejected its nasal form of the current standard therapy for epilepsy patients who experience repetitive seizures. The biotechnology company's shares fell as much as 11 percent after it said that it does not expect the treatment to receive regulatory approval this year. Piper Jaffray analyst David Amsellem said the drug's marketing filing was also low risk as it allowed Acorda to present data including research not conducted by or for the company. The application referenced Valeant Pharmaceuticals' Diastat — the current standard-of-care for epilepsy accompanied by so-called cluster seizures — which is administered rectally via a syringe.



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