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Sun Pharma and China Medical System Holdings Enter into Licensing Agreement for Generic Products in Mainland China

Posted On: 2019-08-16 21:18:23

Sun Pharmaceutical Industries Ltd. (Reuters: SUN.BO, Bloomberg: SUNP IN, NSE: SUNPHARMA, BSE: 524715, "Sun Pharma" and includes its subsidiaries and/or associate companies) today announced that one of its wholly owned subsidiaries has granted an exclusive license to a subsidiary of China Medical System Holdings Ltd. (CMS) to develop and commercialize seven generic products in Mainland China.

The collaboration with CMS now covers eight generic products including the seven products referred above. The total addressable market size for all these eight products is about US$ 1 billion (as per recent IQVIA data) in Mainland China. The initial term of the agreement shall be 20 years from the first commercial sale of the respective products in Mainland China and may be extended for additional three years' as per mutual agreement of the two parties.

"This collaboration gives us entry into the Chinese generic pharmaceutical market. We see lot of potential in China for both, our generics and speciality portfolio. With more than 65% generics penetration, China represents a significant opportunity for generic pharmaceutical companies," said Dilip Shanghvi, Managing Director, Sun Pharma.

In June 2019, Sun Pharma had announced collaboration with CMS on two speciality products, Tildrakizumab and Cyclosporine A 0.09% (CsA) eye drops for the Greater China market.

Shares of SUN PHARMACEUTICAL INDUSTRIES LTD. was last trading in BSE at Rs.414.75 as compared to the previous close of Rs. 417.05. The total number of shares traded during the day was 312082 in over 6080 trades.

The stock hit an intraday high of Rs. 424 and intraday low of 410.1. The net turnover during the day was Rs. 129387208.


Source: Equity Bulls

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