Vanda Pharmaceuticals Inc, makers of sleep disorder drug Hetlioz, is preparing to consider strategic alternatives including a potential sale, according to people familiar with the matter, Reuters reports.

Washington, D.C.-based Vanda makes two neurological drugs, Hetlioz and Fanapt, which treat sleep disorders and schizophrenia, respectively. Together, they brought in about $100 million in revenues in 2015.

Vanda is researching wider indications for Hetlioz, including its potential use in treating sleep disturbances associated with Smith-Magenis syndrome, a rare genetic disorder.

Get the full story at