Sun Pharmaceutical Industries announced that one of its wholly owned
subsidiaries has entered into an exclusive licensing agreement with a subsidiary of China Medical
System Holdings (CMS) for the development and commercialization of Cyclosporine A 0.09%
(CsA) eye drops, an innovative formulation, for dry eye disease in Greater China (including
Mainland China, Hong Kong Special Administrative Region, Macao Special Administrative Region
and Taiwan).
Under terms of the license agreement, CMS will pay Sun Pharma an initial upfront payment, regulatory and sales milestone payments, and royalties on net sales, the terms of which are confidential. CMS will be responsible for development, regulatory filings and commercialization of the product in China. The initial tenure of the agreement shall be 15 years from the first commercial sale of CsA in Greater China, and may be extended for additional 3 years subject to certain conditions defined in the agreement.
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