Sun Pharmaceutical Industries Ltd. 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 an 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, plus royalties on net sales from the commercialization of the products developed using these patents. Sun Pharma will be responsible for the development, regulatory filings, manufacturing and commercialization of these potential products.
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 the 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.
Information source: here
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