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Vanda Pharmaceuticals Enters into an Exclusive License Agreement with Megapharm Ltd. for Commercialization of Fanapt™ in Israel
Date:12/13/2011

ROCKVILLE, Md., Dec. 13, 2011 /PRNewswire/ -- Vanda Pharmaceuticals Inc. (Vanda) (NASDAQ: VNDA), a biopharmaceutical company focused on the development and commercialization of products for central nervous system disorders, today announced its exclusive license agreement with Megapharm Ltd., one of Israel's leading private biotech, pharmaceutical and medical nutrition marketing companies, for the commercialization of Fanapt™  in Israel.

"We are excited to reach this step on the path towards making Fanapt™ available in Israel and pleased to have Megapharm as a commercial partner," said Mihael H. Polymeropoulos, M.D., Vanda's Chief Executive Officer. "This marks another important milestone for the Fanapt™  brand as we continue to grow its presence around the world," added Dr. Polymeropoulos. Megapharm's CEO, Miron Drucker, stated, "we are delighted to have concluded an agreement with Vanda Pharmaceuticals for the marketing of Fanapt™  in Israel. We have been active in the CNS field for many years and are excited to have the opportunity to launch such an important antipsychotic product. This is also an important step in the company's strategy to strengthen our presence and expand our portfolio in this therapeutic area. We are proud that Vanda has chosen us to introduce such an important treatment option for patients who suffer from the symptoms of Schizophrenia."

Under the terms of the agreement, Megapharm will seek regulatory approval for Fanapt™  in Israel. Vanda will supply Megapharm with Fanapt™  drug product for packaging and sale and Megapharm's CNS specialty sales force will promote Fanapt™ to psychiatrists in Israel. The application for regulatory approval of Fanapt™ in Israel was filed in May 2011.

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SOURCE Vanda Pharmaceuticals Inc.
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