Sun Pharmaceutical Industries on Wednesday said it has entered into a global licensing pact with Hyderabad-based CSIR Indian Institute of Chemical Technology (CSIR-IICT) for ceratin patents related to the company's specialty focus areas.
The specialty focus areas include segments like dermatology, ophthalmology and oncology.
"Under the terms of the licence agreement, Sun Pharma gets exclusive global licence for the said patents and any other future patents covered in the agreement," the company said in a statement.
Sun Pharma will pay CSIR-IICT upfront and potential development, regulatory and sales milestone payments totalling up to Rs 240 crore plus royalties on net sales from commercialisation of the products developed using these patents, it added.
The pact is for patents related to certain compounds with potential therapeutic activity across multiple indications.
The company will be responsible for development, regulatory filings, manufacturing and commercialisation of these potential products, the statement said.
The drug firm is making earnest efforts to bring innovations from Indian research institutes to the market to address the unmet needs of patients globally. The collaboration with CSIR-IICT is a step in this direction, he added.
This agreement will facilitate addition of pre-clinical candidates to Sun Pharma's global specialty pipeline, the statement said.
"A successful clinical development of these potential compounds may enable Sun Pharma to commercialise pharmaceutical products for various therapeutic indications over the long term," it added.
Shares of Sun Pharmaceutical Industries were trading at Rs 417.15 per scrip on the BSE, down 4.66 per cent from the previous close.