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