Federal Court Allows Vanda Pharmaceuticals' Lawsuit To Proceed Against The U.S. Food And Drug Administration
Portfolio Pulse from Benzinga Newsdesk
Vanda Pharmaceuticals Inc. (VNDA) announced that the U.S. Court of Federal Claims has allowed its lawsuit against the FDA to proceed. The lawsuit, filed on May 1, 2023, alleges that the FDA improperly disclosed Vanda's trade secrets to generic drug manufacturers. The court denied the government's motion to dismiss in part, enabling Vanda to move forward with its takings claim and engage in discovery.
January 19, 2024 | 8:57 pm
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POSITIVE IMPACT
Vanda Pharmaceuticals' lawsuit against the FDA for the alleged uncompensated taking of trade secrets is allowed to proceed, which could potentially lead to compensation if Vanda prevails.
The court's decision to allow Vanda's lawsuit to proceed is a positive development for the company, as it validates the legal standing of their claim and opens the possibility for compensation. This news could be seen favorably by investors, as it suggests that Vanda is actively defending its intellectual property, which is a critical asset for pharmaceutical companies. However, the outcome of the lawsuit is still uncertain, and the legal process can be lengthy and costly.
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