Navigation Links
Vanda Pharmaceuticals Enters into an Exclusive License Agreement with Probiomed S.A. de C.V. for Commercialization of Fanapt™ in Mexico
Date:7/11/2011

ROCKVILLE, Md., July 11, 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 Probiomed S.A. de C.V., a wholly owned pharmaceutical operating unit of Proquifin S.A. de C.V., for the commercialization of Fanapt™ in Mexico.

"We are very excited to achieve this step on the path towards making Fanapt™ available in Mexico and are very pleased to have Probiomed as our commercial partner," said Mihael H. Polymeropoulos, M.D., Vanda's Chief Executive Officer.  "This marks an important milestone for the Fanapt™ brand," added Dr. Polymeropoulos.  Probiomed's founder and CEO, Jaime Uribe de la Mora, stated, "Fanapt™ represents a strategic franchise opportunity for our company's neurosciences business unit.  We are very pleased to be Vanda's partner for Fanapt™ in Mexico.  We expect to submit the regulatory dossier for market authorization review by the end of 2011."

Under the terms of the agreement, Probiomed will seek regulatory approval for Fanapt™ in Mexico.  Vanda will supply Probiomed with Fanapt™ drug product for sale and Probiomed's specialty sales force will promote Fanapt™ to psychiatrists and commercialize the drug in Mexico.  

With a market of $9.3 billion in annual sales, Mexico is the second largest pharmaceutical market in Latin America and the 14th largest pharmaceutical market in the world.(1)

(1) Source, IMS

About Probiomed

Probiomed is a privately owned Mexican company with more than 40 years of experience in research, development, manufacturing and commercialization of pharmaceutical, biotechnology and vaccines for human health.  Probiomed's neuroscience expertise includes development, manufacturing, sales and marketing of antipsychotics and medicines to treat depression, anxiety and bi-polar diseases, in addition to other central nervous system disorders.

About Vanda Pharmaceuticals Inc.

Vanda Pharmaceuticals Inc. is a biopharmaceutical company focused on the development and commercialization of products for central nervous system disorders. For more on Vanda Pharmaceuticals Inc., please visit http://www.vandapharma.com.

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

Various statements in this release are "forward-looking statements" under the securities laws. Words such as, but not limited to, "believe," "expect," "anticipate," "estimate," "intend," "plan," "targets," "likely," "will," "would," and "could," or the negative of these terms and similar expressions or words, identify forward-looking statements. Forward-looking statements are based upon current expectations that involve risks, changes in circumstances, assumptions and uncertainties. Important factors that could cause actual results to differ materially from those reflected in the company's forward-looking statements include, among others: the extent and effectiveness of the development, sales and marketing and distribution support Fanapt® receives; Vanda's ability to successfully commercialize Fanapt® outside of the U.S. and Canada; delays in the completion of Vanda's clinical trials; a failure of Vanda's products, product candidates or partnered products to be demonstrably safe and effective; Vanda's failure to obtain regulatory approval for its products, product candidates or partnered products or to comply with ongoing regulatory requirements; a lack of acceptance of Vanda's products, product candidates or partnered products in the marketplace, or a failure to become or remain profitable; Vanda's expectations regarding trends with respect to its costs and expenses; Vanda's inability to obtain the capital necessary to fund additional research and development activities; Vanda's failure to identify or obtain rights to new products or product candidates; Vanda's failure to develop or obtain sales, marketing and distribution resources and expertise or to otherwise manage its growth; limitations on Vanda's ability to utilize some or all of its prior net operating losses and research and development credits; a loss of any of Vanda's key scientists or management personnel; losses incurred from product liability claims made against Vanda; a loss of rights to develop and commercialize Vanda's products or product candidates under its license and sublicense agreements and other factors that are described in the "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" sections of Vanda's annual report on Form 10-K for the fiscal year ended December 31, 2010 which is on file with the SEC and available on the SEC's website at www.sec.gov.  In addition to the risks described above and in Vanda's annual report on Form 10-K and quarterly reports on Form 10-Q, other unknown or unpredictable factors also could affect Vanda's results. There can be no assurance that the actual results or developments anticipated by Vanda will be realized or, even if substantially realized, that they will have the expected consequences to, or effects on, Vanda. Therefore, no assurance can be given that the outcomes stated in such forward-looking statements and estimates will be achieved.

All written and verbal forward-looking statements attributable to Vanda or any person acting on its behalf are expressly qualified in their entirety by the cautionary statements contained or referred to herein. Vanda cautions investors not to rely too heavily on the forward-looking statements Vanda makes or that are made on its behalf. The information in this release is provided only as of the date of this release, and Vanda undertakes no obligation, and specifically declines any obligation, to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise.

Media/Investor Inquiries
Cristina Murphy
Cristina.murphy@vandapharma.com
240-599-4500


'/>"/>
SOURCE Vanda Pharmaceuticals Inc.
Copyright©2010 PR Newswire.
All rights reserved

Related medicine technology :

1. Vanda Pharmaceuticals to Present at the Jefferies 2011 Global Healthcare Conference
2. Vanda Pharmaceuticals Announces Date of Annual Meeting of Stockholders
3. Vanda Pharmaceuticals to Announce First Quarter 2011 Financial Results on May 5, 2011
4. Vanda Pharmaceuticals Announces Commencement of Clinical Study of Long-Acting Injectable Formulation of Fanapt®
5. Vanda Pharmaceuticals to Evaluate Tasimelteon in Major Depression
6. Vanda Pharmaceuticals Receives Orphan Drug Designation in Europe for tasimelteon
7. Vanda Pharmaceuticals Files Shelf Registration Statement
8. Vanda Pharmaceuticals Appoints Chief Financial Officer
9. Vanda Pharmaceuticals Reports Third Quarter 2010 Results
10. Vanda Pharmaceuticals to Announce Third Quarter 2010 Financial Results on November 3, 2010
11. Vanda Pharmaceuticals Initiates Phase III Clinical Study Aimed at Resetting the Body Clock
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:2/8/2016)... , Feb.8, 2016 Aesthetic Devices - ... Medical Devices sector report, "Aesthetic Devices - Medical Devices ... currently in pipeline stage. This report ... and primary research by GlobalData,s team of industry experts. ... removed or altered based on the availability and relevance ...
(Date:2/8/2016)... SAN DIEGO , Feb. 8, 2016  Neurocrine ... the Company will report its fourth quarter and year-end ...  February 11, 2016.  Neurocrine will then host a live ... and provide a Company update Thursday afternoon, February 11, ... Time). http://www.neurocrine.com . --> http://www.neurocrine.com ...
(Date:2/8/2016)... N.J. , Feb. 8, 2016   GS1 ... healthcare professionals to guide them through GS1 Standards implementation ... Drug Administration (FDA) Unique Device Identification (UDI) rule. ... GS1 US; Beth Gibson , senior director industry ... , industry development director, GS1 US --> ...
Breaking Medicine Technology:
(Date:2/8/2016)... ... February 08, 2016 , ... ... today that nominations will be accepted February 8, 2016 through May 8, ... Awards include the Information Security Executive® of the Year, which recognizes executives ...
(Date:2/8/2016)... ... February 08, 2016 , ... ... 50% lower incidence rate of type 2 diabetes in the GrassrootsHealth cohort with ... time to make a change in public health,” states Carole Baggerly, Director of ...
(Date:2/8/2016)... ... February 08, 2016 , ... The schedule is now ... country. The AutismOne 2016 Conference, which is being held May 25-29 at the Loews ... elsewhere about helpful interventions and causes of chronic illness in children. , Very recent ...
(Date:2/7/2016)... ... February 07, 2016 , ... ... has added Kybella® to his medical and surgical expertise. Technically known as deoxycholic ... injectable medication used as a non-surgical alternative for reduction of fat below the ...
(Date:2/6/2016)... Pekin, IL (PRWEB) , ... February 06, 2016 ... ... the recovery phases of eating disorder treatment helps to reduce the frequency and ... “Tasks of the Recovery Phase: Re-Establishing Healthy Identity and Purpose,” will explore the ...
Breaking Medicine News(10 mins):