ROCKVILLE, Md., July 11, 2011 /PRNewswire/ — Vanda
Pharmaceuticals Inc. (Vanda) (NASDAQ:
VNDA), a biopharmaceutical company focused on the development
and commercialization of products for central nervous system
disorders, today announced its exclusive license agreement with
Probiomed S.A. de C.V., a wholly owned pharmaceutical operating
unit of Proquifin S.A. de C.V., for the commercialization of
Fanapt™ in Mexico.
“We are very excited to achieve this step on the path towards
making Fanapt™ available in Mexico and are very pleased to
have Probiomed as our commercial partner,” said Mihael H.
Polymeropoulos, M.D., Vanda’s Chief Executive Officer. “This
marks an important milestone for the Fanapt™ brand,” added
Dr. Polymeropoulos. Probiomed’s founder and CEO, Jaime Uribe
de la Mora, stated, “Fanapt™ represents a strategic franchise
opportunity for our company’s neurosciences business unit. We
are very pleased to be Vanda’s partner for Fanapt™ in Mexico.
We expect to submit the regulatory dossier for market
authorization review by the end of 2011.”
Under the terms of the agreement, Probiomed will seek regulatory
approval for Fanapt™ in Mexico. Vanda will supply
Probiomed with Fanapt™ drug product for sale and Probiomed’s
specialty sales force will promote Fanapt™ to psychiatrists
and commercialize the drug in Mexico.
With a market of $9.3 billion in annual sales, Mexico is the
second largest pharmaceutical market in Latin America and the 14th
largest pharmaceutical market in the world.(1)
(1) Source, IMS
Probiomed is a privately owned Mexican company with more than 40
years of experience in research, development, manufacturing and
commercialization of pharmaceutical, biotechnology and vaccines for
human health. Probiomed’s neurosci