Mumbai: Sun Pharmaceutical Industries Ltd on Wednesday announced that it has entered into a licensing agreement with AstraZeneca UK Ltd. (AstraZeneca) to introduce certain novel ready-to-use (RTU) infusion oncology products in China.
As per the terms of the agreement, Sun Pharma will be responsible for the 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. Meanwhile, the financial terms of the agreement are kept confidential.
“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” Kal Sundaram, Director of Corporate Development, Sun Pharma said.