Sun Pharmaceutical Industries on Thursday said one of its arms has entered into a licensing pact with a subsidiary of China Medical System Holdings for the development and commercialisation of its dermatology products, marking its entry into the Greater China Market.
The agreement is to develop and commercialise Tildrakizumab, its lead product in Greater China, including Mainland China, Hong Kong Special Administrative Region, Macao Special Administrative Region and Taiwan.
China Medical System 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 company said in a statement.
The initial tenure of the agreement shall be 15 years from the first commercial sale of the two products in Greater China, and may be extended for additional 3 years subject to certain conditions defined in the agreement, it added.
“This licensing agreement marks our entry into the Greater China Market which is the second largest pharmaceutical market globally. Sun Pharma is committed to growing its dermatology franchise, with Tildrakizumab as its lead product. We continue to build our pipeline and capabilities in this important therapeutic area of significant unmet need,” Sun Pharma Managing Director Dilip Shanghvi said.
Sun Pharma Executive Vice President and Head Global Business Development Kirti Ganorkar said that dry eye disease represents an area of high unmet medical need, with a significant number of patients having moderate to severe form of this disease and the company is committed to growing its global ophthalmology franchise, with cyclosporine as its lead product.