Mumbai (Maharashtra) [India], Aug 14 (ANI): Sun Pharmaceutical Industries said on Wednesday that it has entered into a global licensing agreement with the CSIR Indian Institute of Chemical Technology (CSIR-IICT) in Hyderabad for patents related to certain compounds.
These compounds have potential therapeutic activity across multiple indications in the pharma major's specialty focus areas. Under the terms of the licence agreement, Sun Pharma gets an exclusive global licence for the 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 totalling up to Rs 240 crore plus royalties on net sales from commercialisation of the products developed using these patents. The pharma company will be responsible for development, regulatory filings, manufacturing and commercialisation 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 Managing Director Dilip Shanghvi.
"CSIR-IICT is well-known for its high-quality research and we are proud to be associated with them. We are making earnest efforts to bring innovations from Indian research institutes to the market to address the unmet needs of patients globally. Our collaboration with CSIR-IICT is a step in this direction," he said in a statement.
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 commercialise pharmaceutical products for various therapeutic indications over the long term.
Sun Pharma is the world's fourth largest specialty generic pharmaceutical company and India's top pharmaceutical company. It has 42 manufacturing facilities across six continents. (ANI)