Titan Announces FDA Approval of Fanaptโข (Iloperidone) For the Treatment of Schizophrenia
07 5์ 2009 - 11:23AM
Business Wire
Titan Pharmaceuticals, Inc. (Pink Sheets:๏ฟฝTTNP) today announced
that Vanda Pharmaceuticals, Inc. (NASDAQ: VNDA) has received U.S.
Food and Drug Administration (FDA) approval to market Fanapt๏ฟฝ
(iloperidone), an atypical antipsychotic, for the acute treatment
of adult patients with schizophrenia, a chronic debilitating
disorder which affects more than two million Americans, and
millions more worldwide. Global sales from the class of atypical
antipsychotics exceeded U.S. $20 billion in 2007.
Vanda plans to make Fanapt๏ฟฝ available in pharmacies later this
year. Titan is entitled to receive royalties on global net sales of
Fanapt๏ฟฝ equal to 8% on annual net sales up to $200 million, and 10%
on annual net sales above $200 million. Titan incurs no ongoing
expenses associated with this potential future income.
๏ฟฝWe congratulate the management and employees of Vanda on their
dedication and perseverance in obtaining FDA approval of Fanapt๏ฟฝ.
This is an important milestone for both Titan and Vanda,๏ฟฝ said
Sunil Bhonsle, President of Titan. ๏ฟฝThis medicine will provide an
important option to the patients suffering with this debilitating
disease.๏ฟฝ
About Titan Pharmaceuticals
For information concerning Titan Pharmaceuticals, Inc., please
visit the Company's website at www.titanpharm.com.
The press release may contain "forward-looking statements"
within the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934. Such statements
include, but are not limited to, any statements relating to the
Company's development program and any other statements that are not
historical facts. Such statements involve risks and uncertainties,
including, but not limited to, those risks and uncertainties
relating to difficulties or delays in development, testing,
regulatory approval, production and marketing of the Company's drug
candidates, adverse side effects or inadequate therapeutic efficacy
of the Company's drug candidates that could slow or prevent product
development or commercialization, the uncertainty of patent
protection for the Company's intellectual property or trade
secrets, and the Company's ability to obtain additional financing.
Such statements are based on management's current expectations, but
actual results may differ materially due to various factors,
including those risks and uncertainties mentioned or referred to in
this press release.
Vanda Pharmaceuticals (NASDAQ:VNDA)
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Vanda Pharmaceuticals (NASDAQ:VNDA)
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