Sun Pharma signs $50 million deal with Spanish firm

Sun Pharma has signed an agreement with Almirall to develop and commercialise tildrakizumab for psoriasis.

The Dollar Business Bureau

Sun Pharmaceutical Industries Ltd. on Thursday announced it has signed a licensing agreement worth $50 million with Almirall to develop and commercialise tildrakizumab for psoriasis in Europe.

As part of the agreement, the Spanish firm Almirall will pay an initial payment of $50 million.

"Phase-3 studies of tildrakizumab have recently been completed. Sun Pharma will be eligible to receive development and regulatory milestone payments and, additionally, sales milestone payments and royalties on net sales, the terms of which are confidential," Indian drug major said in a statement. Psoriasis is a chronic skin disease, affecting an estimated 7.5 million people in the US alone and about 125 million people across the world.

Sun Pharma said Almirall will be able to participate in larger Global clinical studies, while leading European studies, for psoriasis indication subject Sun Pharma’s terms and certain cost sharing agreements.

"Sun Pharma will continue to lead development of tildrakizumab for other indications, where Almirall will have right of first negotiation for certain indications in Europe," it said.

"Sun Pharma is committed to growing our dermatology franchise, with tildrakizumab as our lead investigational compound. We continue to build our pipeline and capabilities in this important therapeutic area of significant unmet need. We are proud to be partnering with a regional leader in dermatology, like Almirall, to bring tildrakizumab to the European market," said Dilip Shanghvi, Managing Director, Sun Pharma.

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The Dollar Business Bureau - Jul 28, 2016 12:00 IST