Sun Pharma acquires Novartis' oncology brand Odomzo
The Dollar Business Bureau
Mumbai-based pharmaceutical company Sun Pharma has acquired a branded oncology product, Odomzo (sonidegib), from Novartis after making an upfront payment of $175 million (about Rs 1180 crore) and some additional milestone payments.
The deal has been fixed between subsidiaries of both the companies and will be finalised after putting in place some anti-trust clearance and further closing conditions.
Odomzo is a hedgehog pathway inhibitor which was approved by the US FDA in July 2015. It has been indicated for the treatment of adult patients with locally advanced basal cell carcinoma (laBCC) that has recurred following surgery or radiation therapy, or those who are not candidates for surgery or radiation therapy. The prescription of these drugs is made by around 70 percent dermatologists and the remaining percentage is constituted by oncologists for this class of drug.
According to Kirti Ganorkar, global head - business development, Sun Pharma, the acquisition will see the company expand their already established branded dermatology business and support their expansion into branded oncology with a launched brand. Ganorkar is of the view that Odomzo is a product that has global potential which will be further boosted by Sun Pharma leveraging its existing dermatology and oncology infrastructure. This will lead the organisation to provide an innovative product to BCC patients worldwide.
As per IMS Health, the hedgehog inhibitor class rose by 40 percent in October 2016 YTD as compared to the previous year. There has also been some new data signifying the use of Odomzo, which was presented at ASCO in June 2016.