Sun Pharma to buy rights to cancer drug Odomzo

3 January 2017

Indian drug major Sun Pharmaceutical Industries (BSE: 524715) and its subsidiaries or associate companies plan to acquire the oncology product Odomzo (sonidegib) for global markets.

The agreement has been signed between subsidiaries of the drug’s developer, Swiss pharma giant Novartis (NOVN: VX), and Sun Pharma, and will close following anti-trust clearance and further closing conditions. The agreement has been signed for an upfront payment of $175 million and additional milestone payments. The transaction gives Sun Pharma its first branded oncology product.

Odomzo was approved by the US Food and Drug Administration in July 2015 and in Europe in August that year. It is has regulatory clearance in a total of 30 countries. Odomzo is a hedgehog pathway inhibitor indicated for the treatment of adult patients with locally advanced basal cell carcinoma (laBCC) that has recurred following surgery or radiation therapy, or those who are not candidates for surgery or radiation therapy.

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