Full Press Release Details
Vanda Pharmaceuticals Announces Expiration of Hart-Scott-Rodino Waiting
Period for Exclusive License of Fanapt
ROCKVILLE, MD December 1, 2009 Vanda Pharmaceuticals Inc. (Nasdaq: VNDA) announced today that
the waiting period has expired under the Hart-Scott-Rodino (HSR) Antitrust Improvements Act of 1976
with respect to Vanda s agreement, dated October 12, 2009, with Novartis Pharma AG, and that the
agreement is now effective. Expiration of the waiting period, and the resulting effectiveness of
the agreement, triggers an upfront payment to Vanda of $200 million.
Pursuant to the agreement, Novartis will have exclusive commercialization rights to Fanapt in the
U.S. and Canada. Novartis will be responsible for the further clinical development activities in
these territories, including the development and commercialization of a long-acting injectable (or
depot) formulation of Fanapt . Vanda will retain rights to commercialize Fanapt oral and depot
formulations outside the U.S. and Canada, but Novartis has the option to enter into discussions
with Vanda to co-commercialize Fanapt or receive sales royalties outside the U.S. and Canada.
Vanda Pharmaceuticals Inc. is a biopharmaceutical company focused on the development and
commercialization of clinical-stage products for central nervous system disorders. For more on
Vanda, please visit http://www.vandapharma.com.
both of Vanda Pharmaceuticals Inc.