Sun Pharmaceutical Industries on Wednesday said 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 speciality focus areas.
In a release to the stock exchanges, the company said under the agreement, it would get an exclusive global licence for the 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 240 crore, plus royalties on net sales from commercialisation of the products developed using these patents.
Sun Pharma will be responsible for development, regulatory filings, manufacturing and commercialisation of these potential products, the statement added.
Dilip Shanghvi, Managing Director, Sun Pharma, said: “This collaboration with CSIR-IICT for developing new drugs is part of our broader strategy to enhance our global speciality pipeline... 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 speciality pipeline.
The successful clinical development of these potential compounds may enable Sun Pharma to commercialise pharmaceutical products for various therapeutic indications over the long term.
The stock of Sun Pharmaceutical closed 4.74 per cent lower at Rs 416.80 on the BSE.