Sun Pharmaceutical Industries said on Wednesday it has entered into a licensing agreement with AstraZeneca UK Ltd to introduce certain novel ready-to-use infusion oncology products in China.
The agreement will help to bring cost-effective and quality drugs to patients in China.
As per the terms of the agreement, Sun Pharma will be responsible for 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 products in China. The financial terms are confidential.
"We are pleased to partner with AstraZeneca for commercialisation of our select novel oncology products in China," said Kal Sundaram, Director of Corporate Development at Sun Pharma.
"AstraZeneca's leadership position will help us to make our products available to patients and doctors in China. We see a great potential to introduce our specialty and generics products in the growing China market and this licensing agreement is another positive step in that direction," he said in a statement.
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Sun Pharma is the world's fourth largest specialty generic pharmaceutical company and India's top pharmaceutical company. Deliver products for customers and patients in over 100 countries, its global presence is supported by manufacturing facilities spread across six continents and approved by multiple regulatory agencies.
AstraZeneca is a global, science-led biopharmaceutical company that focuses on the discovery, development and commercialisation of prescription medicines, primarily for the treatment of diseases in therapeutic areas including oncology, respiratory, cardiovascular and metabolic diseases.
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