Acorda buys Civitas to gain access to Parkinson's drug

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Acorda buys Civitas to gain access to Parkinson's drug

(Reuters) - Acorda Therapeutics Inc said it bought privately held Civitas Therapeutics for $525 million to gain access to a Parkinson's disease drug in late-stage development. Acorda's shares rose as much as 22.6 percent to $35.98 on Wednesday, making them one of the top five percentage gainers on the Nasdaq. The biotechnology company obtained global rights for Civitas' experimental drug, CVT-301. The drug is used as an additional therapy where symptoms such as inability to move and muscle stiffness reappear in some Parkinson's patients during treatment. ...

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