INSUBCONTINENT EXCLUSIVE:
Shares of Sun Pharmaceutical advanced over 4 per cent in morning trade on Wednesday after the drugmaker informed bourses that it would
introduce some of its cancer treatment drugs in China through Britain’s AstraZeneca.
The scrip was trading 4.31 per cent up at Rs 448.45
at around 9.45 am (IST), while the benchmark BSE Sensex was down 151 points, or 0.38 per cent, at 40,096.
The agreement will help bring cost
effective and quality drugs to patients in China
As per the terms of the agreement, Sun Pharma will be responsible for the development, regulatory filings and manufacturing the products
covered in the agreement, while AstraZeneca will exclusively promote and distribute these products in China.
The initial tenure of the
agreement is 10 years from the first commercial sale of said products in China
“The financial terms of the agreement are confidential,” the company said in a regulatory filing.
Kal Sundaram, Director of Corporate
Development, Sun Pharma said, “AstraZeneca’s leadership position will help us to make our products available to patients and doctors in
We see a great potential to introduce our speciality and generics products in the growing China market and this licensing agreement is
another positive step in that direction.”
