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Vanda Pharmaceuticals Reports Third Quarter 2017 Financial Results
|||Total net product sales were $41.3 million in the third quarter of 2017|
|||HETLIOZ® to psychiatrists initiative fully launched in October 2017|
|||Tradipitant study showed significant improvement to itch and disease severity in atopic dermatitis|
|||Vanda is providing an update to its 2017 Financial Guidance|
WASHINGTON November 7, 2017 Vanda Pharmaceuticals Inc. (Vanda) (NASDAQ: VNDA) today announced financial and operational results for the third quarter ended September 30, 2017.
During the third quarter of 2017, Vanda demonstrated the importance of the diverse set of ongoing initiatives to advance our growth strategy, said Mihael H. Polymeropoulos, M.D., Vandas President and CEO. The tradipitant results in atopic dermatitis, early trends from the HETLIOZ to psychiatrists initiative and the resolution of the HETLIOZ pricing negotiation in Germany, all represent significant potential drivers of growth.
|||Total net product sales from HETLIOZ® and Fanapt® were $41.3 million in the third quarter of 2017, a 2% decrease compared to $42.1 million in the second quarter of 2017 and a 7% increase compared to $38.5 million in the third quarter of 2016.|
|||HETLIOZ® net product sales were $22.3 million in the third quarter of 2017, a 1% decrease compared to $22.5 million in the second quarter of 2017 and a 19% increase compared to $18.7 million in the third quarter of 2016.|
|||As of October 2017, the full Fanapt® U.S. field force is promoting HETLIOZ® to psychiatrists for their patients with Non-24-Hour Sleep-Wake Disorder. Early results are encouraging and Vanda believes this initiative has the potential to increase the HETLIOZ® rate of growth in 2018.|
|||In October 2017, Vanda reached a pricing agreement for HETLIOZ® with the German National Association of Statutory Health Insurance Funds after an Arbitration Board decision. Vanda plans to submit pricing and reimbursement dossiers for HETLIOZ® in both France and Italy in the first half of 2018.|
|||Fanapt® net product sales were $19.1 million in the third quarter of 2017, a 3% decrease compared to $19.5 million in the second quarter of 2017 and a 4% decrease compared to $19.8 million in the third quarter of 2016.|
|||Fanapt® prescriptions, as reported by QuintilesIMS Incorporated, were 27,797 in the third quarter of 2017, a 2% decline compared to the second quarter of 2017.|
|||The Federal Circuit Court of Appeals has scheduled oral arguments on December 5, 2017 for the appeal by West-Ward Pharmaceuticals (West-Ward) of the Delaware District Courts decision that West-Wards ANDA product infringes Vandas U.S. Patent No. 8,586,610 (the 610 Patent). The Delaware District Court issued an injunction barring West-Ward from marketing its product until the expiration of the 610 Patent on November 2, 2027.|
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The following information was filed by Vanda Pharmaceuticals Inc. (VNDA) on Tuesday, November 7, 2017 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-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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