 "Sun Pharma unit inks pact with US firm to introduce drug to treat stroke")
Sun Pharmaceutical Industries on Thursday said one of its wholly-owned subsidiary unit has tied up with US-based Pharmazz Inc to commercialise a drug used to treat cerebral ischemic stroke in India.
One of the company's wholly-owned subsidiaries has entered into a license agreement with the US-based biopharmaceutical company to commercialise a first-in-class innovative drug, Tyvalzi, in the country, the Mumbai-based drug major said in a statement.
Developed by Pharmazz for potential global use, Sovateltide, is indicated for treating cerebral ischemic stroke.
As per agreement terms, Sun Pharma is granted rights for marketing Sovateltide in India under the brand name Tyvalzi (Sovateltide), the company said.
Pharmazz will be entitled to upfront and milestone payments, including royalties, it added.
"The Phase 3 clinical trial for Tyvalzi conducted in India demonstrated statistically and clinically meaningful improvement in neurological outcomes in ischemic stroke," Sun Pharma India Business CEO Kirti Ganorkar said.
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Tyvalzi is a first-in-class innovative drug which can help improve the quality of life of stroke patients, he added.
The drug can be administered within 24 hours for the treatment of ischemic stroke. The current treatment options provide a narrow time window of 4-5 hours limiting its use in most patients.
"For patients with cerebral ischemic stroke, I believe Sun Pharma is the best partner for Pharmazz to market Tyvalzi," Chairman of the Board of Directors of Pharmazz Anil Gulati stated.
Shares of Sun Pharma were trading 0.47 per cent down at Rs 1,142.60 apiece on the BSE.