Sun Pharma and Hikma enter into exclusive licensing agreement for ILUMYA™ for Middle East & North Africa regions

Sun Pharmaceutical Industries Ltd. (Reuters: SUN.BO, Bloomberg: SUNP IN, NSE: SUNPHARMA, BSE: 524715, "Sun Pharma" and includes its subsidiaries and/or associate companies) announced that one of its wholly-owned subsidiaries and Hikma Pharmaceuticals PLC (Hikma) have entered into an exclusive licensing and distribution agreement for ILUMYA™, an innovative biologic product, for the Middle East & North Africa (MENA) region.

ILUMYA™ (tildrakizumab) is an USFDA approved innovative IL-23p19 monoclonal antibody used for the treatment of adults with moderate-to-severe plaque psoriasis who are candidates for systemic therapy or phototherapy.

Under the terms of the licensing agreement, Hikma will be responsible for the registration and commercialization of the product in all MENA markets and Sun Pharma will be responsible for product supply. Sun Pharma is eligible for upfront and milestone payments from Hikma. The term of this agreement is 15 years from first sale, with two years' automatic renewal periods.

Aalok Shanghvi, Senior Vice President - Emerging Markets, Sun Pharma said, "We are pleased to partner with Hikma to offer ILUMYA™ to patients in the MENA region. Hikma's strong presence in the MENA region will enable access to a new treatment option for people who are unable to manage their moderate-to-severe plaque psoriasis."

Shares of SUN PHARMACEUTICAL INDUSTRIES LTD. was last trading in BSE at Rs.479.8 as compared to the previous close of Rs. 473.6. The total number of shares traded during the day was 366811 in over 6858 trades.

The stock hit an intraday high of Rs. 482 and intraday low of 457. The net turnover during the day was Rs. 174525253.

Source : Equity Bulls

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