
Sun Pharma to acquire Novartis’s drug for $175 million
pharmafile | December 22, 2016 | News story | Business Services, Manufacturing and Production, Medical Communications, Research and Development, Sales and Marketing | Novartis, Sun Pharma
Sun Pharma has announced that it will acquire Odomzo from Novartis for an upfront fee of $175 million alongside additional milestone payments. The deal will go through providing that it receives anti-trust clearance and further closing conditions.
Odomzo (sonidegib) is Novartis’s branded drug that is indicated for the treatment of adult patients with locally advanced basal cell carcinoma (BCC) after it has recurred following surgery or radiation. The drug will become Sun Pharma’s first branded oncology product and continues its development into the dermatology field. The drug currently has marketing approval in over 30 countries worldwide, including in the US, Europe and Australia.
Kirti Ganorkar, global head of business development at Sun Pharma, commented on the procural: “Odomzo gives us an opportunity to meaningfully expand our already established branded dermatology business and support our expansion into Branded Oncology with a launched brand. We see meaningful global potential for Odomzo by leveraging Sun Pharma’s existing dermatology and oncology infrastructure to provide an innovative product to BCC patients worldwide.”
BCC is a form of non-melanoma skin cancer, which is the most common type of skin cancer worldwide – with approximately two million cases in the US alone.
Ben Hargreaves
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