Civitas, Acorda deal

Neurological disorder company Acorda will acquire Civitas for $525 million in cash. Civitas' CVT-301 is an inhaled formulation of levodopa to treat motor fluctuations associated with Parkinson's disease. Acorda plans to start Phase III testing of the product in early 2015, with a potential NDA submission to FDA by the end of 2016. The company said it expects CVT-301's annual U.S. sales to exceed $500 million. Acorda also will gain Civitas' Arcus inhalation technology and a manufacturing facility in Massachusetts. ...