Drug major Sun Pharmaceutical Industries on Monday said that one of its wholly-owned subsidiaries and Hikma Pharmaceuticals PLC (Hikma) have entered into an exclusive licensing and distribution agreement for plaque psoriasis medicine, Ilumya, for the Middle East and North Africa (MENA) region. Sun Pharma, however, did not disclose the financial details of the agreement.
ILUMYA (tildrakizumab) is an US Food and Drug Administration (FDA) approved monoclonal antibody used for the treatment of adults with moderate-to-severe plaque psoriasis who are candidates for systemic therapy or phototherapy.
As per the licensing agreement, Hikma will be responsible for the registration and commercialisation of the product in all MENA markets and Sun Pharma will be responsible for product supply.
"Sun Pharma is eligible for upfront and milestone payments from Hikma," the drug maker said in a press release.
The term of this agreement is 15 years from first sale, with two years' automatic renewal periods, it added.
Commenting on the development, Aalok Shanghvi, Senior Vice President - Emerging Markets, Sun Pharma said, "We are pleased to partner with Hikma to offer ILUMYA to patients in the MENA region. Hikma's strong presence in the MENA region will enable access to a new treatment option for people who are unable to manage their moderate-to-severe plaque psoriasis."
The US FDA approved ILUMYA in 2018 based on data from the pivotal phase-3 reSURFACE clinical development program. It has also been approved in Australia, and in Europe under the brand name ILUMETRI.
Boosted by the development, shares of Sun Pharma rose as much as 1.92 per cent to hit an intraday high of Rs 489.05 against previous closing price of Rs 479.80 on the BSE.