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Acorda buying Biotie for $363M cash, adding phase III PD compound

By Cormac Sheridan
Staff Writer

Tuesday, January 19, 2016

DUBLIN – Faced with the high cost of completing phase III development for its Parkinson's disease drug, tozadenant (SYN115), Biotie Therapies Oyj opted to fold now and agree to a $363 million cash bid from Acorda Therapeutics Inc., rather than hold out in the hope that its value would rise later on the back of positive data.

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