Mihael Polymeropoulos on Medicaid pricing
From Vanda Pharmaceuticals Q4 2025 Earnings Call · · Investing 101
“The gross to net dynamics on Vistanti are significantly different and favorable relative to Fanapt. And that's because Vistanti will get a new Medicaid URA calculation, a reset there. And so, as you might remember, 30 to 40% of our Fanapt business is Medicaid. And currently, that contributes negative revenue, meaning the gross to net adjustment exceeds the gross revenue for us. It's actually a negative revenue contribution. And with Vistanti, you'll get a complete reset on that so that you'll be subject to the statutory 23.1% discount, but none of the other adjustments that come with having a product on the market over time.”
On , Mihael Polymeropoulos, Founder, President, Chief Executive Officer & Chairman of The Board at VANDA PHARMACEUTICALS INC, spoke about Medicaid pricing during Vanda Pharmaceuticals Q4 2025 Earnings Call on Investing 101.
About Mihael Polymeropoulos
In September 2020, Polymeropoulos discussed Vanda Pharmaceuticals' efforts to address the COVID-19 pandemic. He described the company's "Odyssey study," a phase 3 clinical trial of the drug tradipitant in approximately 300 hospitalized patients with COVID-19 pneumonia. Polymeropoulos stated that the study aimed to "stop the inflammation that advances to severe acute respiratory distress syndrome" and that if enrollment was completed quickly, results could be available within two months. He said that if successful, the company would ask the FDA for accelerated approval. Polymeropoulos also noted that Vanda was pursuing a comprehensive program including the development of antivirals and a vaccine in collaboration with the University of Illinois in Chicago, as well as a genetic variation study of COVID-19 with the University of Washington. He described the FDA as "very cooperative" in responding to projects and urged caution against "over-indexing" on any single approach, stating that "the solution is not going to be just a wonderful vaccine 12 to 18 months from now." In a 2015 acceptance speech for an industry innovation award, Polymeropoulos said his "personal inspiration comes truly from patients with rare orphaned disorders." He recounted his formative career at the National Institutes of Health mapping disease genes and discussed the development of Hetlioz, a medication for non-24-hour sleep-wake disorder in blind individuals, which he said allows them to "reset their circadian timing system." He thanked patients, advocacy organizations, the FDA, and legislators for their work in improving research.