Skip to main content

DC biotech Vanda, fixing stage fright and jet lag, gets unsolicited buyout offer

By Jeff Clabaugh

D.C.-based Vanda Pharmaceuticals, with treatments in development for jet lag, sea sickness and stage fright, has received an unsolicited takeover offer from British drugmaker Cycle Pharmaceuticals in a deal worth $446 million.

Cycle has a portfolio of U.S.-approved drugs for treatments of immunological and neurological diseases, including multiple sclerosis.

“The Vanda board of directors will carefully review and evaluate the indication of interest to determine the course of action that the board believes is in the best interests of Vanda and its shareholders,” Vanda Pharmaceuticals said in a statement.

Last month, Vanda rejected an updated takeover offer from Future Pak, a Michigan-based contract manufacturing and packaging company in the pharmaceuticals business, saying it substantially undervalued the company.

Cambridge, UK-based Cycle said in disclosing its offer, it had substantial cash on hand and its financial advisors say financing will be in place for the Vanda acquisition.

This spring, the Food and Drug Administration approved Vanda’s Fanapt, used for the treatment of schizophrenia, for use in treating Bipolar 1 Disorder. Vanda’s other commercially-approved drug, Hetlioz, is used to treat sleeping disorders.

Massachusetts court hears arguments in lawsuit alleging Meta designed apps to be addictive to kids

By The Associated Press
BOSTON (AP) — Massachusetts' highest court heard oral arguments Friday in the state's lawsuit arguing that Meta designed features on Facebook and Instagram to make them addictive to young users. The lawsuit, filed in 2023 by Attorney General Andrea Campbell, alleges that Meta did this to make a profit and that its actions affected hundreds of thousands of teenagers in Massachusetts who use the social media platforms. “We are making claims based only on the tools that Meta has developed because its own research shows they encourage addiction to the platform in a variety of ways,” said State Solicitor David Kravitz, adding that the state's claim has nothing to do the company's algorithms or failure to moderate content. Meta said Friday that it strongly disagrees with the allegations and is “confident the evidence will show our longstanding commitment to supporting young people.” Its attorney, Mark Mosier, argued in court that the lawsuit “would impose liabilities for performing traditional publishing functions” and that its actions are protected by the First Amendment.
Read Next Story

Related News

Americans’ confidence in the U.S. economy falls sharply in January to lowest level since 2014

Boeing’s sales jump nearly 60% in 4Q, bolstered by strong rise in airplane deliveries

Trump threatens to hike tariffs on South Korean goods over inaction on trade deal