IBEF: January 17, 2020
Sun Pharmaceutical Industries has entered into a licensing agreement with US-based Rockwell Medical to commercialise Triferic, an iron replacement and haemoglobin maintenance drug, in India.
"Sun Pharma announced that one of its wholly-owned subsidiaries has entered into exclusive licensing and supply agreements with Rockwell Medical Inc (Rockwell), to commercialise Rockwell's Triferic, a proprietary iron replacement and haemoglobin maintenance drug, for treating anaemia in hemodialysis patients in India," according to the drug firm's regulatory filing.
Under the agreement, Sun Pharma will be the exclusive development and commercialisation partner for Triferic during the term of the agreement, subject to its approval in India.
Currently, Triferic is the only USFDA-approved therapy available in the US which is used in replacing iron and maintaining haemoglobin in hemodialysis patients via dialysate during each dialysis treatment.
The filing didn't disclose the financial terms of the agreement due to confidentiality, but Rockwell is eligible for upfront and milestone payments as well as royalty on net sales.
"Triferic is an innovative anaemia therapy for the patients who are undergoing haemodialysis and offers a unique treatment option. Triferic will help Sun Pharma expand its portfolio in its core therapy areas," Sun Pharma CEO of India business Mr Kirti Ganorkar said.
According to the Global Burden of Disease Study 2017, chronic kidney disease was the tenth leading cause of mortality in India, having risen from 14th rank in 2007.
The shares of Sun Pharmaceutical Industries were trading at Rs 447.10 (US$ 6.39), up 0.25 per cent on BSE.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.