Sun Pharma inks licensing pact with CSIR-IICT Hyderabad, will pay Rs.2.4 bln

VADODARA (BARODA) | MUMBAI | AHMEDABAD-GANDHINAGAR | RAJKOT – In a regulatory update submitted to the Indian Stock Exchanges, Vadodara (Baroda) headquartered Sun Pharma announced licensing agreement with CSIR Indian Institute of Chemical Technology, Hyderabad, for patents related to certain compounds with potential therapeutic activity across multiple indications in Sun Pharma’s specialty focus areas.

Sun Pharma will pay 2.4 billion rupees upfront plus royalties on net sales to CSIR-IICT, Hyderabad, the statement read.

The statement submitted by the company to the Indian Bourses titled, “Sun Pharma Announces Licensing Agreement With CSIR-IICT” read that, this agreement allows Sun Pharma to get exclusive global license for CSIR-IICT’s patents related to certain compounds with potential therapeutic activity across multiple indications and equally CSIR-IICT will benefit to get upfront plus milestone payments and royalties on net sales.


WHAT IS THE DEAL?

The statement further read that, Sun Pharmaceutical Industries Ltd. (Reuters: SUN.BO, Bloomberg: SUNP IN, NSE: SUNPHARMA, BSE: 524715, “Sun Pharma” and includes its subsidiaries and/or associate companies) today announced that it has entered into a global licensing agreement with the CSIR Indian Institute of Chemical Technology, Hyderabad (CSIR-IICT), for patents related to certain compounds with potential therapeutic activity across multiple indications in Sun Pharma’s specialty focus areas.

Under the terms of the license agreement, Sun Pharma gets exclusive global license for the said patents and any other future patents covered in the agreement.

Sun Pharma will pay CSIR-IICT upfront and potential development, regulatory and sales milestone payments totaling up to Rs.2.40 billion (~240 crore ~ 2,400 million), plus royalties on net sales from commercialization of the products developed using these patents.

Sun Pharma will be responsible for development, regulatory filings, manufacturing and commercialization of these potential products.


COMMENTS & GOING FORWARD

Dilip Shanghvi, Managing Director, Sun Pharma said,

“This collaboration with CSIR-IICT for developing new drugs is part of our broader strategy for enhancing our global specialty pipeline. CSIR-IICT is well-known for its high quality research and we are proud to be associated with them. We are making earnest efforts to bring innovations from Indian research institutes to the market to address the unmet needs of patients globally. Our collaboration with CSIR-IICT is a step in this direction.”

This agreement will facilitate addition of pre-clinical candidates to Sun Pharma’s global specialty pipeline.

A successful clinical development of these potential compounds may enable Sun Pharma to commercialize pharmaceutical products for various therapeutic indications over the long term.


Follow DATELINE GUJARAT On :-

FacebookGoogle+LinkedinTwitterYouTube 


SHARE THIS NEWS ON :-