Sun Pharma and its research arm Sun Pharma Advanced Research Company Ltd (SPARC) Friday said the US Food and Drug Administration (USFDA) has approved its new drug application of XELPROS, used to reduce open-angle glaucoma or ocular hypertension.
"This approval is from Sun Pharma's Halol (Gujarat) facility. Sun Pharma in-licensed XELPROS from SPARC in June 2015 and this approval will trigger a milestone payment to SPARC," Sun Pharma and SPARC said in a joint statement.
SPARC is also eligible for milestone payments and royalties on commercialisation of XELPROS in the US, it added.
"This approval, coming less than one month following the approval of CEQUA (cyclosporine ophthalmic solution) 0.09 per cent, reaffirms the strength of Sun Pharma's fast-growing Ophthalmics division and its commitment to serving the needs of patients with ocular disorders," Sun Pharma CEO North America Abhay Gandhi said.
XELPROS will be commercialised in the US by Sun Ophthalmics, the branded ophthalmic division of Sun Pharmaceutical Industries Ltd's wholly-owned subsidiary.
Shares of Sun Pharma were trading 2.11 per cent higher at Rs 663.55 apiece on BSE.
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