 "Sun Pharma gains 2% on pact with Merck & Co for Tildrakizumab")
Sun Pharmaceutical Industries is trading higher by 2% at Rs 809 after the drug maker said it has entered into a licensing agreement with Merck & Co Inc for investigational therapeutic antibody candidate, Tildrakizumab to be used for treatment of plaque psoriasis, a skin ailment
Under terms of the agreement, Sun Pharma will acquire worldwide rights to Tildrakizumab for use in all human indications from Merck in exchange for an upfront payment of $ 80 million, the companies said in a joint statement.
Tildrakizumab is being evaluated in Phase III registration trials for the treatment of chronic plaque psoriasis.
The stock opened at Rs 808 and touched a high of Rs 813 on NSE. In total, around 900,000 shares changed hands on the counter so far on NSE and BSE.
Under terms of the agreement, Sun Pharma will acquire worldwide rights to Tildrakizumab for use in all human indications from Merck in exchange for an upfront payment of $ 80 million, the companies said in a joint statement.
Tildrakizumab is being evaluated in Phase III registration trials for the treatment of chronic plaque psoriasis.
The stock opened at Rs 808 and touched a high of Rs 813 on NSE. In total, around 900,000 shares changed hands on the counter so far on NSE and BSE.
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