Log in
Forgot password ?
Become a member for free
Sign up
Sign up
Dynamic quotes 

4-Traders Homepage  >  Equities  >  Nasdaq  >  Vanda Pharmaceuticals Inc.    VNDA

Delayed Quote. Delayed  - 05/27 09:59:56 pm
10.61 USD   +11.80%
05/27 Ulta Salon, FEI and Vanda Pharma rise while Terex slumps
05/26 VANDA PHARMACEU : Announces FDA Approval of the Fanapt® Supplemental..
05/04 VANDA PHARMACEU : reports 1Q loss
News SummaryMost relevantAll newsSector news 

Vanda To Pay Eli Lilly Up To $100 Million In Drug Development Agreement

share with twitter share with LinkedIn share with facebook
share via e-mail
04/16/2012 | 01:50pm CEST

Vanda Pharmaceuticals Inc. (>> Vanda Pharmaceuticals Inc.) agreed to pay Eli Lilly Co. (LLY) up to $100 million for the exclusive right to develop a drug that has shown some promise as a treatment for alcohol addiction.

Under its deal with Lilly, the biopharmaceutical company will pay a $1 million initial license fee and take responsibility for all development costs of the VLY-686 drug.

Lilly is also eligible to receive additional payments based upon certain milestones and royalties on sales. These milestones include $4 million for milestones achieved prior to a new drug application and up to $95 million for future regulatory approval and sales milestones.

Vanda, which focuses on treatments for central nervous system disorders, noted that prior research of VLY-686 has focused on its potential as a novel therapeutic for individuals struggling with dependence on alcohol.

"The licensing of VLY-686 is an important milestone for Vanda, as we continue to realize our vision of developing treatments to address unmet medical needs," said Chief Executive Mihael H. Polymeropoulos.

Vanda in February reported it swung to a loss in the fourth quarter as increased expenses outweighed higher revenue for the period.

Shares closed Friday at $4.49 and were inactive in premarket trade. The stock has slumped 42% over the past year.

-By Mia Lamar, Dow Jones Newswires; 212-416-3207; mia.lamar@dowjones.com

Stocks mentioned in the article : Vanda Pharmaceuticals Inc.
share with twitter share with LinkedIn share with facebook
share via e-mail
React to this article
05/27 Ulta Salon, FEI and Vanda Pharma rise while Terex slumps
05/26 VANDA PHARMACEUTICALS INC. : Other Events, Financial Statements and Exhibits (fo..
05/26 VANDA PHARMACEUTICALS : Announces FDA Approval of the Fanapt® Supplemental New D..
05/12 VANDA PHARMACEUTICALS INC. : Entry into a Material Definitive Agreement (form 8-..
05/05 VANDA PHARMACEUTICALS : Assigned Patent
05/05 VANDA PHARMACEUTICALS : Management's Discussion and Analysis of Financial Condit..
05/04 VANDA PHARMACEUTICALS : reports 1Q loss
05/04 VANDA PHARMACEUTICALS INC. : Results of Operations and Financial Condition, Fina..
05/04 VANDA PHARMACEUTICALS : Reports First Quarter 2016 Financial Results
04/21 VANDA PHARMACEUTICALS : to Announce First Quarter 2016 Financial Results on May ..
News chart
Full-screen chart
Income Statement Evolution
More Financials