Vanda Pharmaceuticals (VNDA) will pay Eli Lilly (LLY) up to $100M for exclusive rights to...

|About: Vanda Pharmaceuticals Inc. (VNDA)|By:, SA News Editor

Vanda Pharmaceuticals (VNDA) will pay Eli Lilly (LLY) up to $100M for exclusive rights to develop a drug that has shown promise as a treatment for alcohol addiction. The company calls the licensing of VLY-686 "an important milestone for Vanda, as we continue to realize our vision of developing treatments to address unmet medical needs."