2023-12-07 07:36:32 ET
Vanda Pharmaceuticals ( NASDAQ: VNDA ) has acquired the U.S. and Canadian rights to relapsing multiple sclerosis drug Ponvory (ponesimod) from J&J ( NYSE: JNJ ) unit Actelion for $100M.
Approved by FDA and Health Canada, Ponvory is indicated to treat adults with relapsing forms of multiple sclerosis, to include clinically isolated syndrome, relapsing-remitting disease and active secondary progressive disease.
The therapy has clinically shown to be superior to Aubagio, another approved drug for multiple sclerosis by Sanofi Genzyme ( SNY ).
"The acquisition of Ponvory is a significant milestone for Vanda, as it expands our commercial portfolio and gives us access to a versatile immune response modifier that can potentially have broad application in treating a number of autoimmune-based disorders," said Mihael Polymeropoulos, Vanda's president, CEO and chairman of the board.
Janssen will continue to operate the business pursuant to a transitional business license deal, during which time, Vanda ( VNDA ) and Janssen will transition regulatory and supply responsibility for Ponvory to Vanda.
Shares of Vanda ( VNDA ) jumped 20% premarket
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Vanda stock jumps on $100M license deal for MS drug from J&J unit