Keywords: Novartis, Vanda, Titan, Fanapt, Schizophrenia, Licensing
Novartis buys back exclusive US/Canada rights from Vanda Pharmaceuticals for Fanapt in deal worth up to $465 million
Article | 13 October 2009
USA-based Vanda Pharmaceuticals has entered into an exclusive agreement for Swiss drug major Novartis to buy back commercialization and development rights to Fanapt (iloperidone) in the USA and Canada. Fanapt, an atypical anti-psychotic, was approved by the US Food and Drug Administration earlier this summer for the acute treatment of schizophrenia in adults. The US anti-psychotic market is valued at around $14 billion a year.
Vanda stated that, under an amended and restated agreement, Novartis will make an upfront payment of $200 million to Vanda and a royalty on net sales in this territory. Enjoying this article? To continue reading you need to login, take a FREE trial or subscribe.
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