Vanda, Despite FDA Rejection, Swats Down Another Buyout Bid from Cycle

The FDA’s rejection of Vanda Pharmaceuticals’ stomach disease candidate has done little to dampen the enthusiasm of England’s Cycle Pharmaceuticals to acquire the Washington D.C.-based company. On Monday, Vanda revealed that it has turned down a second $8-per-share takeover offer from Cycle, which works out to a $488 million deal to buy out the 18-year-old pharma company. In a release, Vanda said the offer came on September 23, five days after the FDA sent a complete response letter, swatting down its gastroparesis drug tradipitant.

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Source: https://www.fiercepharma.com/pharma/vanda-swats-down-another-buyout-bid-cycle

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