07 November 2019 | News
The agreement will help to bring cost effective and quality drugs to patients in China
image credit- medicalnewstoday.com
Sun Pharmaceutical Industries Ltd. has announced that it has entered into a licensing agreement with AstraZeneca UK Ltd. to introduce certain novel ready-to-use (RTU) infusion oncology products in China. The agreement will help to bring cost effective and quality drugs to patients in China.
As per the terms of the agreement, Sun Pharma will be responsible for development, regulatory filings and manufacturing the products covered in the agreement while AstraZeneca will exclusively promote and distribute these products in China. The initial tenure of the agreement is 10 years from the first commercial sale of the said products in China. The financial terms of the agreement are confidential.
Kal Sundaram, Director of Corporate Development, Sun Pharma said, “We are pleased to partner with AstraZeneca for commercialisation of our select novel oncology products in China. AstraZeneca’s leadership position will help us to make our products available to patients and doctors in China. We see a great potential to introduce our speciality and generics products in the growing China market and this licensing agreement is another positive step in that direction.”
The agreement will be announced today at the China International Import Expo (CIIE) in Shanghai. CIIE is a world-class expo that is organised by Ministry of Commerce of the People's Republic of China. It is an open cooperation platform to invite countries into China to showcase their national image and engage in international trade.