INSUBCONTINENT EXCLUSIVE:
Sun Pharma said the CSIR-IICT will get upfront and milestone payments totaling up to Rs 240 croreSun Pharmaceutical Industries has entered
into a Rs 240-crore global licensing deal with the Indian Institute of Chemical Technology, Hyderabad under the Council of Scientific and
Industrial Research Indian (CSIR) for developing new drugs
The company said the agreement, in which Sun Pharma will get an exclusive global license for patents, is part of its broader strategy to
enhance its global specialty pipeline
The deal includes patents related to certain compounds with potential therapeutic activity across multiple indications in Sun Pharma's
specialty focus areas, the Mumbai-based pharmaceuticals company said in a regulatory filing on Wednesday.As part of the deal, the
CSIR-Indian Institute of Chemical Technology (CSIR-IICT) will get upfront and milestone payments totaling up to Rs 240 crore, and royalties
on net sales from commercialization of the products developed using these patents, Sun Pharma said.Sun Pharma said it will be responsible
for development, regulatory filings, manufacturing and commercialization of these potential products."This collaboration with CSIR-IICT for
developing new drugs is part of our broader strategy for enhancing our global specialty pipeline," said Dilip Shanghvi, managing director,
Sun Pharmaceutical Industries."CSIR-IICT is well-known for its high quality research and we are proud to be associated with them," he
added.Sun Pharma said a successful clinical development of these potential compounds may enable it to commercialize pharmaceutical products
for various therapeutic indications over the long term.Sun Pharma shares fell as much as 6.72 per cent during the session, before
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