Sun Pharma and Rockwell Medical enter a licensing pact for commercialization of Triferic
Sun Pharmaceutical Industries recently announced that one of its wholly-owned subsidiaries has entered into a supply and licensing agreement with Rockwell Medical, a bio-pharmaceutical company based in Michigan for commercialising Triferic, an iron replacement and haemoglobin maintenance drug, in India. Triferic has already been approved in the US by FDA back in 2015.
As per the terms of the agreement, Sun Pharma will be the exclusive development and commercialization partner for Triferic during the term of the agreement, subject to its approval in India whereas Rockwell will be eligible for upfront and milestone payments and royalty on net sales.
Triferic is the only USFDA-approved drug for treating iron deficiency in chronic kidney disease patients receiving haemodialysis. Sun Pharma CEO of India business Kirti Ganorkar said, “Triferic will help Sun Pharma expand its portfolio in its core therapy areas.”
The 2017 Global Burden of Disease Study has revealed chronic kidney disease to be the tenth leading cause of death in India, having leapt from 14th rank in 2007. Over 1,30,000 patients in India receive haemodialysis and the number continues to increase at the rate of 232 per million people.
While the Mumbai-based multinational pharmaceutical company is the world’s fourth-largest specialty generic pharmaceutical company and India’s no. 1 pharmaceutical company, Rockwell Medical is a biopharmaceutical company that is committed to transforming the therapeutic areas of anaemia management across the globe, by treating anaemic patients mainly in End-Stage Renal Disease.
The stock of Sun Pharmaceutical Industries closed at Rs 445.80 prior to the agreement. However, it advanced by 0.38 per cent to Rs 447.05 after the company made a pact with Rockwell Medical.