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Vanda Pharmaceuticals Reacts to U.S. Supreme Court

Monday, April 22, 2024 BiopharmaWatch Research 1 min read
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Key Takeaway: Vanda Pharmaceuticals announced that the U.S. Supreme Court has declined to hear their appeal regarding the litigation around HETLIOZ® against Teva Pharmaceuticals and Apotex. The company's CEO expressed disappointment but acknowledged the importance of the case in influencing patent law. Vanda remains hopeful that future cases can address these significant issues for the benefit of the industry and public health.
Price reaction · baseline $5.11 (2024-04-19 close) · clean, no other VNDA news in the window
day 0 close
-6.1%
day 1
-9.4%
day 3 · peak
-12.3%

Market Sentiment Analysis

POSITIVE FACTORS

  • The case highlighted significant issues in patent law affecting life sciences.
  • Vanda's leadership remains optimistic about future legal cases.
  • Their attention to patent law may benefit innovators and public health.

CONCERNS & RISKS

  • The Supreme Court denied Vanda's petition, which is a setback for the company.
  • The decision leaves the lower court ruling intact, potentially affecting HETLIOZ® sales.

BiopharmaWatch Analysis

From our catalyst data and publicly available data · not financial advice
Best trade, last catalyst
+121%
120-day peak, hindsight
Typical move
19.9%
average across 7 past catalysts
Cash runway
~16 mo
Low dilution risk
Lead asset
Imsidolimab
Phase 2 · Palmoplantar Pustulosis

Full Press Release Details

WASHINGTON, April 22, 2024 /PRNewswire/ -- Vanda Pharmaceuticals Inc. (Vanda) (Nasdaq: VNDA) today announced that the Supreme Court denied Vanda's petition for a writ of certiorari in its HETLIOZ® Abbreviated New Drug Application litigation against Teva Pharmaceuticals USA, Inc., Apotex Inc. and Apotex Corp.
"We are disappointed that the Supreme Court has decided not to hear our case and clarify the lower court standard for obviousness in patent law. However, we are pleased that our case has drawn attention to an area of law that has broad and significant implications in life sciences innovation," said Dr. Mihael H. Polymeropoulos, President, CEO and Chairman of the Board. "We look forward to future cases that may resolve these issues for the benefit of innovators, patients and public health."
About Vanda Pharmaceuticals Inc.
For full U.S. Prescribing Information for HETLIOZ®, including indication and Important Safety Information, visit www.hetlioz.com.
Senior Vice President, Chief Financial Officer and Treasurer
Vanda Pharmaceuticals Inc.
Jim Golden / Jack Kelleher / Dan Moore
Collected Strategies

Frequently Asked Questions

What litigation did Vanda Pharmaceuticals lose?

Vanda lost its petition concerning HETLIOZ® against Teva and Apotex.

What was the Supreme Court's decision on Vanda's case?

The Supreme Court declined to hear Vanda's case on patent law standards.

Who is the CEO of Vanda Pharmaceuticals?

Dr. Mihael H. Polymeropoulos is the CEO of Vanda Pharmaceuticals.

What is the focus of Vanda's litigation?

The litigation focuses on the obviousness standard in patent law.

Where can I find information on HETLIOZ®?

Visit www.hetlioz.com for the U.S. Prescribing Information for HETLIOZ®.

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Tags: VNDA Viatris Investor Conferences Healthcare Vanda Pharmaceuticals HETLIOZ Supreme Court patent law
Last updated: Apr 22, 2024

Biotech snapshot

Cash runway
$170M liquidity · $10M/mo burn
~16 mo
Low dilution risk
Lead asset
ImsidolimabPhase 2
Palmoplantar Pustulosis →

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+121%
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