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

Quick Facts

Editors Pick
Firearms maker Smith & Wesson Holding Corp. (SWHC), Tuesday reported a drop in profit for the third quarter, as revenues and margins declined reflecting lower sales of long guns. However, earnings for the quarter came in ahead of Wall Street estimates as did revenues. Moving ahead, the company boosted... Target Corp (TGT) on Tuesday said it plans $2 billion of cost savings over the next two years, mainly at its corporate headquarters, as the discount retailer strives to boost profit and become a leaner outfit. Reports said that about $500 million of the savings would occur in the current year, and... Bob Evans Farms Inc. (BOBE) on Tuesday reported a drop in a profit for the third quarter, despite growth in revenues, with both earnings and revenues falling short of expectations. Moving head, the restaurant chain lowered its fiscal year 2015 outlook. Shares of Bob Evans Farms plunged over 18 percent...
comments powered by Disqus
RELATED NEWS
Trade VNDA now with 
Follow RTT