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Sun Pharma surges on entering into license agreement with CMS for Tildrakizumab

Mumbai : Sun Pharmaceutical Industries is currently trading at Rs 406.65, up by 5.70 points or 1.42% from its previous closing of Rs. 402.80 on the BSE. The scrip opened at Rs. 405.85 and has touched a high and low of Rs. 409.70 and Rs. 403.00 respectively. So far 82198 shares were traded on the counter. The BSE group ‘A’ stock of face value Rs. 1 has touched a 52 week high of Rs. 678.80 on 06-Sep-2018 and a 52 week low of Rs. 350.40 on 13-May-2019.

Last one week high and low of the scrip stood at Rs. 409.70 and Rs. 377.70 respectively. The current market cap of the company is Rs. 96645.21 crore. The promoters holding in the company stood at 54.38%, while Institutions and Non-Institutions held 32.86% and 12.76% respectively. Sun Pharmaceutical Industries’ one of wholly owned subsidiaries has entered into a licensing agreement with a subsidiary of China Medical System Holdings (CMS) for the development and commercialization of Tildrakizumab, an innovative biologic product, for psoriasis and psoriatic arthritis in Greater China (including Mainland China, Hong Kong Special Administrative Region, Macao Special Administrative Region and Taiwan).

Under terms of the license agreement, CMS will pay Sun Pharma an initial upfront payment, regulatory and sales milestone payments, and royalties on net sales, the terms of which are confidential. CMS will be responsible for development, regulatory filings and commercialization of the product in China. The initial tenure of the agreement shall be 15 years from the first commercial sale of Tildrakizumab in Greater China, and may be extended for additional 3 years’ subject to certain conditions defined in the agreement. Sun Pharmaceutical Industries is the world’s fourth largest specialty generic pharmaceutical company and India’s top pharmaceutical company.

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