BUZZ-Vanda falls as US FDA rejects jet lag drug application
Reuters
Jan 08
BUZZ-Vanda falls as US FDA rejects jet lag drug application
** Shares of drugmaker Vanda Pharmaceuticals VNDA.O fall 12.65% to $7.46 premarket
** Co says it received a letter from the U.S. FDA declining to approve the use of its sleep drug Hetlioz to treat jet lag
** FDA noted trials used simulated time shifts, not real air travel - VNDA
** Co says it disagrees with FDA decision and plans further talks with agency
** Hetlioz is already approved for two rare sleep disorders
** As of last close, stock down ~3% over the past year
(Reporting by Sahil Pandey in Bengaluru)
((Sahil.Pandey@thomsonreuters.com))
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