Sun Pharma entered into an agreement with AstraZeneca
Sun Pharmaceutical Industries (Sun Pharma) announced that it has entered into a licensing agreement with AstraZeneca UK Ltd. (AstraZeneca) to introduce certain new ready to-use (RTU) infusion oncology products in China. These products will help in cancer treatments. The agreement will play a big role in bringing cost-effective and quality drugs to patients in China.
According to the agreement, Sun Pharma will be responsible for development, regulatory filings, and the manufacturing of the products, covered in the agreement, while AstraZeneca will exclusively promote and distribute these products in China. The initial tenure for the agreement is 10 years from the first commercial sale of said products in the country. The financial terms of the agreement are confidential.
Sun Pharma is a specialty generic pharmaceutical company. A vertically integrated business and a skilled team of the company enable it to serve patients in over 100 countries across the world at affordable prices.
On Wednesday, the stock of Sun Pharma opened at Rs. 432 per share and made an intraday high and low of Rs. 453 and Rs. 432, respectively, on BSE. At 1.11 pm the stock was trading at Rs. 436.15, up by 2 per cent.