Comments
Shares of Sun Pharmaceutical Industries today rose nearly 3 per cent after the company entered into a licensing agreement with Merck & Co Inc for using investigational therapeutic antibody candidate, tildrakizumab, for the treatment of plaque psoriasis.
Sun Pharma’s stock gained 2.49 per cent to Rs 812.10 on the BSE. On the NSE, the scrip was up 2.62 per cent at Rs 813.20.
Under the terms of the agreement, Sun Pharma will acquire the worldwide rights of tildrakizumab for use in all human indications from Merck in exchange for an upfront payment of $80 million, the companies had said in a joint statement yesterday.
Plaque psoriasis
Tildrakizumab is being evaluated in Phase III registration trials for the treatment of chronic plaque psoriasis, a skin ailment.
“Merck will continue all clinical development and regulatory activities, which will be funded by Sun Pharma.
Upon product approval, Sun Pharma will be responsible for regulatory activities, including subsequent submissions, pharmacovigilance, post approval studies, manufacturing and commercialisation of the approved product,” it had said.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.