Sun Pharmaceutical Industries on Friday announced a partnership with China Medical System Holdings (CMS) to develop and commercialise generic drugs in mainland China.
The tie-up will help the company make a foray into the generic drug market in China.
The collaboration with CMS covers eight generic products. The total addressable market size for all these eight products is about $1 billion (according to recent IQVIA data) in mainland China. The initial term of the agreement shall be 20 years from the first commercial sale of the respective products and may be extended for an additional three years’ according to a mutual agreement between the two parties.
“This collaboration gives us entry into the Chinese generic pharmaceutical market. We see lot of potential in China for both, our generics and speciality portfolio. With more than 65% generics penetration, China represents a significant opportunity for generic pharmaceutical companies,” said Dilip Shanghvi, managing director, Sun Pharma.
In June 2019, Sun Pharma had announced collaboration with CMS on two speciality products - plaque psoriasis drug Tildrakizumab and Cyclosporine eye drops for the Greater China market.