Sun Pharma Advanced Research Company on Tuesday announced the grant of an exclusive licence to Tripoint Therapeutics LLC, USA to commercialise the Elepsia XR tablets.
Under terms of the license agreement, SPARC will be eligible to receive tiered royalties ranging from 15% to 50% on net sales. Tripoint will be responsible for all US regulatory submissions and payment of annual PDUFA fees for Elepsia tablets.
The initial term of the agreement shall be five years and may be further extended as per mutual understanding between the parties.
The shares gained as much as 3.4 per cent to ₹174.65.