Sun Pharma enters licensing agreement with CSIR-IICT

Sun Pharmaceuticals Industries Limited 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. It 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 commercialisation of the products developed using these patents. Sun Pharma will be responsible for the development, regulatory filings, manufacturing and commercialisation of these potential products.

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 commercialise pharmaceutical products for various therapeutic indications over the long term.

The stock of Sun Pharma opened at Rs 440.70 on Wednesday. During the day, it dipped by 6.7 per cent making intra-day low of Rs 408.15. It got closed at Rs 417.05.