Vanda Pharmaceuticals Inc. (VNDA): M&A transaction — Vanda acquires U.S. and Canadian rights to PONVORY for $100M upfront

Vanda Pharmaceuticals Inc.

Acquired exclusive U.S. and Canadian rights to PONVORY (ponesimod), a once-daily oral S1P1R modulator for relapsing multiple sclerosis.
Upfront cash payment of $100 million to Janssen (Johnson & Johnson); transaction closed December 7, 2023.
Janssen will continue operations under a transitional services agreement while Vanda assumes regulatory and supply responsibility.
Vanda CEO highlights PONVORY as a versatile immune-response modifier with potential application in autoimmune disorders beyond MS.

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

Vanda Pharmaceuticals Inc. completed an acquisition involving Actelion Pharmaceuticals Ltd. (Janssen), a Johnson & Johnson Company for $100 million (closed 2023-12-07).

Action: acquisition
Counterparty: Actelion Pharmaceuticals Ltd. (Janssen), a Johnson & Johnson Company
Consideration: $100 million
Closing: 2023-12-07

Exact text from the filing

Vanda made an upfront payment of $100 million to Janssen as consideration for the Purchased Assets.

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Vanda Pharmaceuticals Inc. entered into Purchase Agreement with Actelion Pharmaceuticals Ltd. (Janssen, a Johnson & Johnson Company) valued at $100 million (effective 2023-12-07).

Action: entry
Agreement: asset purchase
Counterparty: Actelion Pharmaceuticals Ltd. (Janssen, a Johnson & Johnson Company)
Value: $100 million
Effective: 2023-12-07

Exact text from the filing

On December 7, 2023, Vanda Pharmaceuticals Inc. (“Vanda”) entered into an Asset Purchase Agreement (the “Purchase Agreement”) with Actelion Pharmaceuticals Ltd. (“Janssen”), a Johnson & Johnson Company, pursuant to which Vanda acquired from Janssen the U.S. and Canadian rights for PONVORY ® (ponesimod).

View on SEC.gov

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Vanda Pharmaceuticals Inc. filing history →

Source: SEC EDGAR

accession 0001193125-23-290779

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