Vanda Pharmaceuticals And Novartis Settle License Dispute

announced on Monday that it has agreed to settle a dispute over the rights to Fanapt with

Under the agreement, Novartis will transfer all rights relating to Fanapt to Vanda Pharmaceuticals in the U.S. and Canada. At the same time, Vanda Pharmaceuticals will receive a $25 million equity investment at $13.82 per share. Also, Vanda Pharmaceuticals will receive an exclusive worldwide license to AQW051, an alpha-7 nicotonic acetylcholine receptor partial agonist for the treatment of schizophrenia. Vanda Pharmaceuticals hosted a conference call on Tuesday at 10:00AM on its