Please wait while we load the requested 10-K report or click the link below:
Vanda Pharmaceuticals Reports Fourth Quarter 2014 and Full Year 2014 Financial Results
|||HETLIOZ® net product sales in the U.S. grew to $6.0 million in the fourth quarter of 2014, a 15% increase as compared to the third quarter of 2014.|
|||Vanda expects HETLIOZ® net product sales for 2015 to grow to between $40 and $45 million.|
|||Combined 2015 net product sales from both HETLIOZ® and Fanapt® are expected to be between $95 million and $110 million.|
WASHINGTON February 19, 2015 Vanda Pharmaceuticals Inc. (Vanda) (NASDAQ:VNDA), today announced financial and operational results for the fourth quarter and full year ended December 31, 2014.
2014 was a transformational year for Vanda with the HETLIOZ launch in the U.S. for the treatment of Non-24-Hour Sleep-Wake Disorder. We are impressed with the continued growth of HETLIOZ and are fortunate to be able to offer this important treatment option for patients said Mihael H. Polymeropoulos M.D., Vandas President and CEO. The return of the U.S. and Canadian commercial rights to Fanapt brings an immediately accretive product to Vanda further strengthening our U.S. commercial portfolio.
|||HETLIOZ® net product sales in the U.S. grew to $6.0 million in the fourth quarter of 2014, a 15% increase, compared to $5.2 million in the third quarter of 2014. HETLIOZ® net product sales were $12.8 million for the full year 2014.|
|||Since the U.S. commercial launch of HETLIOZ® in April 2014, over 760 new patient prescriptions have been written including over 220 in the fourth quarter of 2014. As of December 31, 2014, over 470 patients had initiated HETLIOZ® treatment and over 330 patients were on active treatment reflecting a cumulative persistence rate of approximately 70%.|
|||The HETLIOZ® Marketing Authorization Application in the European Union (EU) is under review with a regulatory decision expected in the third quarter of 2015.|
|||Tasimelteon life cycle management activities are ongoing and include a Smith-Magenis Syndrome observational study with results expected in the first half of 2015 and preparations for a clinical development program for pediatric Non-24.|
|||HETLIOZ® exclusivity in the U.S. is protected by orphan exclusivity and two patents listed in the FDA Orange Book (Orphan exclusivity expiry in 2021; Patent No. 5,856,529 expiry expected in 2022 and Patent No. 8,785,492 expiry in 2033).|
|||Fanapt® royalty revenue was $1.6 million for the fourth quarter of 2014, compared to $1.7 million in the third quarter of 2014. Fanapt® royalty revenue was $6.5 million for the full year 2014, compared to $7.1 million for 2013.|
|||For the full year 2014, Fanapt® U.S. net product sales were $65.0 million, as reported by Novartis AG (Novartis). Fanapt® U.S. prescriptions for the fourth quarter of 2014 were approximately 40,500, as reported by IMS.|
The following information was filed by Vanda Pharmaceuticals Inc. (VNDA) on Thursday, February 19, 2015 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.
View differences made from one year to another to evaluate Vanda Pharmaceuticals Inc.'s financial trajectory
Compare this 10-K Annual Report to its predecessor by reading our highlights to see what text and tables were
removed , and by Vanda Pharmaceuticals Inc..