Sun Pharma enters into licensing agreement with SPARC

Sun Pharmaceutical Industries announced a licensing agreement for SPARC's ELEPSIA XR(Levetiracetam Extended Release Tablets). As per the agreement, SPARC will license ELEPSIA XR to a wholly owned subsidiary of Sun Pharma for the US market. SPARC will receive an up-front payment of US$ 10 million from Sun Pharma. It is also eligible for certain additional milestone payments and defined royalties linked to any future sales of ELEPSIA XR.

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