SPARC grants exclusive license to Tripoint Therapeutics to commercialise Epilepsy tablets in USA
Sun Pharma Advanced Research Company Ltd (SPARC) today announced the grant of an exclusive license to Tripoint Therapeutics LLC, USA (Tripoint) to commercialise ElepsiaTM XR 1,000 mg and ElepsiaTM XR 1,500 mg tablets in the USA.
Under the terms of the license agreement, SPARC will be eligible to receive tiered royalties ranging from 15 per cent to 50 per cent on net sales. Tripoint will be responsible for all the US regulatory submissions and the payment of annual PDUFA fees for ElepsiaTM XR 1,000 mg and ElepsiaTM XR 1,500 mg. The initial term of the agreement shall be 5 years and maybe further extended as per the mutual agreement between the parties. ElepsiaTM XR is an alternative treatment option for patients suffering from epilepsy.
A study conducted anticipates that the global Epilepsy market may reach USD 9,509.2 million towards the end of 2023. In addition, the report has further indicated that the market is expected to exhibit a CAGR of 8.20 per cent during the forecast period of 2018 to 2023. Epilepsy is a chronic neurological disorder with a patient population of about 50 million. The increasing prevalence of the diseases is projected to boost the growth pattern of the epilepsy market in the years to come.