Friday, February 23, 2007

Acorda Therapeutics (ACOR) Responds to Loeb's Request to Sell

Acorda Therapeutics, Inc. (NASDAQ: ACOR) responded to a letter from Dan Loeb's Third Point LLC urging the company to sell itself. The company said, "The board of directors of Acorda Therapeutics continually evaluates ways to maximize shareholder value and to serve the best interests of all shareholders."

In his letter to Acorda yesterday, disclosed in a 13D filing, Loeb said, "A larger, more experienced company would be able to expedite Fampridine SR through the FDA and into the hands of patients more quickly and efficiently."

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