For USD 16 million and more in defined royalties & milestone payments
Sun Pharma Advanced Research Company (SPARC) and Sun Pharmaceutical Industries announced that SPARC has licensed out XelprosTM (Latanoprost BAK-free eye drops) to a subsidiary of Sun Pharma for the US market.In addition to up-front payment of US$3 million, SPARC will receive certain other milestone payments, both totaling to US$16 million from Sun Pharma. It is also eligible for certain defined royalties and additional milestone payments linked to the actual sales performance of XelprosTM.
In December 2014, the US FDA had issued a Complete Response letter (CRL) to SPARC for its New Drug Application (NDA) for Latanoprost BAK-free eye drops. This CRL has since been replied to and a response from the US FDA is awaited.
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