Sun Pharma partners with SPARC to treat skin conditions
Sun Pharmaceutical Industries Limited (Sun Pharma) and Sun Pharma Advanced Research Company Limited (SPARC) informed the markets of a worldwide licensing agreement on the development and commercialization of SCD-044 today.
SCD-044 is being assessed as a potential oral treatment for psoriasis, atopic dermatitis and other auto-immune disorders. It is ready to enter phase-II of the clinical trials. The provisions of the license agreement require Sun Pharma to make an upfront payment of US$ 20 million to SPARC. Sun Pharma has taken up the responsibility for the development, regulatory filings, manufacturing and commercialization of the product worldwide. SPARC will also be eligible to receive up to US$ 125 million as milestone payments contingent upon the achievement of clinical, regulatory and sales milestones, along with tiered royalties on sales.
Psoriasis is a skin disorder in which skin cells build up and form scales & itchy, dry patches. Atopic dermatitis is a chronic condition, with a tendency to flare periodically, that makes the skin red and itchy.
According to a research report (GVR-1-68038-662-2), the global psoriasis drugs market size was valued at US$ 11.3 billion in 2016. It is anticipated to post a CAGR of 9.4 per cent during the period of 2016-22. The dominant growth stimulants for this market include increasing awareness regarding its treatment and rising demand for improved healthcare infrastructure.
According to another research report published in 2018 (Report ID: GVR-2-68038-546-5), the global atopic dermatitis drugs market size was valued at US$ 4.1 billion in 2016. Its expansion has been predicted at a CAGR of 6.6 per cent during the period of 2016-22. Atopic dermatitis is the most common type of eczema, affecting a large percentage of world's population.
Sun Pharma's stock closed at 459.25, up by 1.93 per cent or Rs 8.70 per share on BSE.