Sun Pharma shares end nearly 2 pc up on Merck licensing pact

Shares of Sun Pharmaceutical Industries today ended nearly 2 per cent higher after the company entered into a licensing agreement with Merck & Co Inc for using investigational therapeutic antibody candidate, tildrakizumab for treatment of plaque psoriasis.
Stock of the pharma firm settled with a gain of 1.63 per cent at Rs 805.20 on the BSE. During the day, it climbed 2.78 per cent to Rs 814.40.
At the NSE, the stock rose by 1.46 per cent to settle at Rs 804.
In terms of volume, 2.66 lakh shares of the company changed hands at the BSE, while more than 29 lakh shares were traded at the NSE during the day.

Under terms of the agreement, Sun Pharma will acquire worldwide rights of tildrakizumab for use in all human indications from Merck in exchange for an upfront payment of USD 80 million, the companies had said in a joint statement yesterday.
Tildrakizumab is being evaluated in Phase III registration trials for the treatment of chronic plaque psoriasis, a skin ailment.
"Merck will continue all clinical development and regulatory activities, which will be funded by Sun Pharma. Upon product approval, Sun Pharma will be responsible for regulatory activities, including subsequent submissions, pharmacovigilance, post approval studies, manufacturing and commercialisation of the approved product," it had said.