Comments
Drugmaker Sun Pharma has entered into a licensing agreement with AstraZeneca UK Ltd to introduce certain novel ready-to-use (RTU) infusion oncology products in China. Sun Pharma said the agreement will help bring cost-effective and quality drugs to patients in China. The agreement was announced today at the China International Import Expo (CIIE) in Shanghai.
The initial tenure of the agreement is 10 years from the first commercial sale of the said products in China, the note said, without revealing financial details. Sun’s stock price was up over 1.8 per cent at Rs 438 on the BSE, at 11.55 am on Wednesday.
According to the agreement, Sun Pharma will be responsible for development, regulatory filings and manufacturing of the products covered in the agreement while AstraZeneca will exclusively promote and distribute these products in China.
Kal Sundaram, Sun Pharma’s Director of Corporate Development, said: “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.”
CIIE is an expo organised by China’s Ministry of Commerce.
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.