Sun Pharma gains on partnership with Michigan-based Rockwell Medical

Sun Pharmaceutical Industries advanced 0.28% to Rs 447.05 after the company and Rockwell Medical entered into a licensing agreement for commercializing Triferic in India.

In an exchange filing made before market hours today, Sun Pharma announced that one of its wholly owned subsidiaries has entered into exclusive licensing and supply agreements with Rockwell Medical Inc. (Rockwell), to commercialize Rockwell's Triferic, a proprietary iron replacement and haemoglobin maintenance drug, for treating anaemia in hemodialysis patients in India. Triferic is approved in USA.

As per the terms of the agreement, Sun Pharma will be the exclusive development and commercialization partner for Triferic during the term of the agreement, subject to its approval in India. In consideration for the license, Rockwell will be eligible for upfront and milestone payments as well as royalty on net sales.

According to the 2017 Global Burden of Disease Study, chronic kidney disease was the 10th leading cause of mortality in India, having risen from 14th rank in 2007 . In India, there are approximately 130,000 patients receiving hemodialysis, and the number is increasing by about 232 per million people.

Sun Pharmaceutical Industries is the world's fourth largest specialty generic pharmaceutical company and India's top pharmaceutical company.

Powered by Capital Market - Live News