Fierce Pharma June 6, 2024
In recent months, Vanda Pharmaceuticals has been busy working to grow its commercial presence through its acquisition of Johnson & Johnson’s Ponvory and its recent bipolar disorder approval for Fanapt. It seems the company’s efforts are not going unnoticed.
Thursday, the England-based rare disease drugmaker Cycle Pharmaceuticals revealed an $8-per-share offer for Vanda, representing a total buyout offer of $466 million.
In a statement (PDF), Vanda said it will “carefully review and evaluate the indication of interest to determine the course of action that the board believes is in the best interests of Vanda and its shareholders.”
Cycle, for its part, said it “would have preferred to reach an agreement privately.” The company is releasing details of the proposal...
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