Sun Pharmaceutical Industries has entered into a global licensing agreement with the CSIR Indian Institute of Chemical Technology, Hyderabad (CSIR-IICT), for patents related to certain compounds with potential therapeutic activity across multiple indications in Sun Pharma's specialty focus areas.
Under the terms of the license agreement, Sun Pharma gets exclusive global license for the said patents and any other future patents covered in the agreement. Sun Pharma will pay CSIR-IICT upfront and potential development, regulatory and sales milestone payments totaling up to Rs. 240 crore, plus royalties on net sales from commercialization of the products developed using these patents.
Sun Pharma will be responsible for development, regulatory filings, manufacturing and commercialization of these potential products.
This agreement will facilitate addition of pre-clinical candidates to Sun Pharma's global specialty pipeline. A successful clinical development of these potential compounds may enable Sun Pharma to commercialize pharmaceutical products for various therapeutic indications over the long term.
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