logo
Share SHARE
FONT-SIZE Plus   Neg

Vanda Pharma Acquires Rights To NK-1 Receptor Antagonist From Eli Lilly

Vanda Pharmaceuticals Inc. (VNDA: Quote) said it has acquired an exclusive world-wide license from Eli Lilly and Co. (LLY: Quote) to develop and commercialize a small molecule neurokinin 1 receptor, or NK-1R, antagonist for all human indications.

As per the terms of the agreement with Eli Lilly, Vanda Pharma will pay an initial license fee of $1 million and will be responsible for all development costs. Eli Lilly is also eligible to get extra payments on the basis of achievement of specified development and commercialization milestones as well as tiered-royalties on net sales at percentage rates up to the low double digits. These milestones include $4 million for pre-NDA approval milestones and up to $95 million for future regulatory approval and sales milestones.

Vanda Pharma stated that in 2012, it plans to initiate and complete the technology transfer activities and further examine the clinical and commercial profile of VLY-686. This strategic evaluation will further inform potential indications for an early development clinical program, noted the company.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Software giant Microsoft Corp. said Monday after the markets closed that its second quarter profit fell 11% from last year, hurt mainly by integration and restructuring costs as well as higher income tax expenses even as revenue increased 8% due to strong sales of its gadgets and cloud-based products. English-made Cadbury chocolates will no longer be available in the United States, the result of a settlement between Hershey and a New Jersey-based import company. Beloved treats such as the Cadbury Creme Egg will only be sold in the U.S. using American chocolate, angering those who say the creamier... Gas prices are set to climb again after a long time due to rising wholesale prices. According to Lundberg Survey, while the national average price of gas fell 13 cents in the past two weeks to $2.07 a gallon, it could soon rise due to increased costs of crude oil in the past 10 days.
comments powered by Disqus
RELATED NEWS
Trade VNDA now with 
Follow RTT