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.
Read the full article: Vanda, Despite FDA Rejection, Swats Down Another Buyout Bid from Cycle //
Source: https://www.fiercepharma.com/pharma/vanda-swats-down-another-buyout-bid-cycle