Vanda Pharmaceuticals Acquires Rights To Multiple Sclerosis Drug From Johnson & Johnson's Company

Vanda Pharmaceuticals Inc VNDA has acquired U.S. and Canadian rights to Ponvory (ponesimod) from Actelion Pharmaceuticals Ltd, a Johnson & Johnson company JNJ. 

The FDA and Health Canada approved Ponvory to treat adults with relapsing forms of multiple sclerosis (RMS), including clinically isolated syndrome, relapsing-remitting disease, and active secondary progressive disease. 

Vanda paid $100 million to acquire the U.S. and Canadian rights to Ponvory. Janssen will continue to operate the business under a Transitional Business License Agreement.

"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 H. Polymeropoulos, Vanda's President, CEO and Chairman of the Board.

In a clinical study, Ponvory was shown to be superior to Sanofi SA SNY Aubagio (teriflunomide), another approved drug for multiple sclerosis, in the annual rate of relapse, and it was also associated with fewer T2 and T1 MRI lesions versus the comparator. 

Approximately 9 out of 10 people taking Ponvory did not experience disability progression over two years.

Price Action: VNDA shares are down 3.05% at $3.92 on the last check Thursday.