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| Name | Symbol | Market | Type |
|---|---|---|---|
| Novartis AG | NYSE:NVS | NYSE | Depository Receipt |
| Price Change | % Change | Price | High Price | Low Price | Open Price | Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|
| -1.46 | -1.50% | 95.81 | 97.83 | 97.11 | 97.63 | 1,180,808 | 00:46:25 |
From May 2019 to May 2024
Vanda Pharmaceuticals Inc. has regained U.S. and Canadian rights to schizophrenia treatment Fanapt under a settlement with Novartis AG that dismisses a licensing dispute over the schizophrenia drug.
Under the settlement, Novartis will make a $25 million equity investment and grant Vanda an exclusive world-wide license to its schizophrenia drug candidate AQW051, a phase II alpha-7 nicotinic acetylcholine receptor partial agonist.
Vanda, a biopharmaceutical company that focuses on the development and commercialization of treatments of central nervous system disorders, touted the deal as potentially transformative.
Fanapt is an atypical antipsychotic approved for the treatment of schizophrenia in adults. It was approved for marketing in Israel, Mexico and Argentina, according to its website.
Vanda's shares jumped 22% to $14.50 in recent after-hours trading Monday, while Novartis' shares edged down to $95.24.
Write to Maria Armental at maria.armental@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
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