Sun Pharma to acquire cancer drug from Novartis for $175 mn



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Sun Pharma to acquire cancer drug from Novartis for $175 mn


Date: 22-December-2016

Sun Pharmaceutical Industries Ltd, India’s biggest drugmaker, plans to acquire skin cancer drug Odomzo from Swiss firm Novartis AG for an upfront payment of $175 million (Rs 1,190 crore).The company will also make additional milestone payments as part of the proposed deal,It didn’t specify the quantum of these payments.“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,” said Kirti Ganorkar, global head of business development at Sun Pharma.

 
 
 
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