Scopia snags two board seats at Acor­da fol­low­ing stock pur­chase; BeiGene nabs sec­ond in­di­ca­tion for Revlim­id in Chi­na

→ A hedge fund in New York has no­ti­fied Acor­da Ther­a­peu­tics $ACOR that it owns near­ly 8.5 mil­lion shares of the com­pa­ny’s com­mon stock — or 18.1% of Acor­da. Now, Scopia Cap­i­tal Man­age­ment LP says it wants two of its rep­re­sen­ta­tives on Acor­da’s board. Acor­da, which has a mar­ket cap just over $1 bil­lion, an­nounced Wednes­day its en­tered in­to a co­op­er­a­tive agree­ment with Scopia, in which Scopia will ap­point two di­rec­tors to the board fol­low­ing the com­pa­ny’s 2018 an­nu­al meet­ing. “We ap­pre­ci­ate the con­struc­tive di­a­logue we have had with Scopia, and are pleased to have reached this agree­ment,” said Ron Co­hen, Acor­da’s pres­i­dent and CEO, in a state­ment. “We are fo­cused on con­tin­u­ing to meet our re­spon­si­bil­i­ties to all of our stake­hold­ers, in­clud­ing the many pa­tients with de­bil­i­tat­ing neu­ro­log­i­cal dis­or­ders who are served by our in­no­v­a­tive ther­a­pies, and our high­ly ded­i­cat­ed em­ploy­ees.”

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