Sun Pharmaceutical Industries, announced on Tuesday that it has entered into a licensing pact with Philogen SpA, a Swiss-Italian firm, to commercialise an under-development skin cancer drug in Europe, Australia, and New Zealand.
Commercialising Philogen’s specialty product, Nidlegy, an anti-cancer biopharmaceutical currently in Phase III clinical trials, is the primary objective of this collaboration, as stated in Sun Pharma’s official statement. Philogen is developing Nidlegy for the treatment of both melanoma and non-melanoma skin cancers.
Under the terms of the agreement, Sun Pharma, based in Mumbai, will hold exclusive rights to commercialise Nidlegy. Philogen, on the other hand, will be responsible for completing pivotal clinical trials in Europe, seeking marketing authorisation from regulatory authorities, and manufacturing commercial supplies.
The two companies will share post-commercialisation economics in an approximately 50:50 ratio, according to Sun Pharma. While specific financial terms were not disclosed, Philogen will retain the intellectual property rights for Nidlegy in territories and indications other than skin cancers.
Hellen De Kloet, Sun Pharma’s Business Head for Western Europe and ANZ, stated, “This collaboration aligns with our objective of bringing innovative products to patients. By adding Nidlegy to our existing Odomzo franchise, we will be well-positioned to offer patient solutions across a broad spectrum of skin cancers in various disease stages.”
On the Bombay Stock Exchange (BSE), Sun Pharma’s shares were trading at a decline of 0.53 per cent at Rs 963 apiece.