Acorda Therapeutics Inc (ACORQ)

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6:14AM Acorda Therapeutics misses by $0.11, misses on revs; reaffirms FY13 AMPYRA sales guidance (ACOR) 15.67 : Reports Q1 (Mar) adj. earnings of $0.09 per share, $0.11 worse than the Capital IQ Consensus Estimate of $0.20; revenues rose 1.0% year/year to $71.9 mln vs the $80.77 mln consensus.

For the quarter ended March 31, 2013, the co reported AMPYRA net revenue of $62.3 million, compared to $57.4 million in net revenue for the same quarter in 2012. AMPYRA revenue is recognized following shipment of the product from the Company's distribution facility to its network of specialty pharmacies. AMPYRA net sales were lower in the first quarter compared to the fourth quarter of 2012, affected by several recurring first quarter factors. These included patients switching healthcare plans resulting in a delay in refilling prescriptions, inventory stocking in the fourth quarter and increased discounts and allowances resulting from Medicare patients entering the "donut hole" at the start of the new year. Sales rebounded strongly in March, and the Company is reiterating 2013 AMPYRA net sales guidance of $285-$315 million.