Sun Pharmaceutical Industries Ltd Thursday said one of its arms has entered into a licensing pact with a subsidiary of China Medical System Holdings Ltd (CMS) for development and commercialisation of a product to treat psoriasis and psoriatic arthritis, marking its entry into the country.
The agreement for the development and commercialisation of Tildrakizumab, an innovative biologic product will be for Greater China, including Mainland China, Hong Kong Special Administrative Region, Macao Special Administrative Region and Taiwan, Sun Pharma said in a statement.
"This licensing agreement marks our entry into the Greater China market which is the second largest pharmaceutical market globally," Sun Pharma Managing Director Dilip Shanghvi said.
Sun Pharma is committed to growing its dermatology franchise with Tildrakizumab as its lead product, he added.
"We continue to build our pipeline and capabilities in this important therapeutic area of significant unmet need," Shanghvi said.
Under the licensing agreement, CMS will pay Sun Pharma an initial upfront payment, regulatory and sales milestone payments, and royalties on net sales, the terms of which are confidential, the statement said.
CMS will be responsible for development, regulatory filings and commercialisation of the product in China.
"The initial tenure of the agreement shall be 15 years from the first commercial sale of Tildrakizumab in Greater China, and may be extended for additional three years subject to certain conditions defined in the agreement," the statement said.
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