New Delhi: Sun Pharmaceutical Industries Ltd has entered into a licensing agreement with AstraZeneca UK Ltd to introduce certain novel ready-to-use infusion oncology products in China.
Under the agreement, Sun Pharma will be responsible for development, regulatory filings and manufacturing the products while AstraZeneca will exclusively promote and distribute these products in China.
The initial tenure of the agreement is 10 years from the first commercial sale of the said products in China, while financial terms of the agreement are confidential, the company said.
The agreement will help bring cost-effective and quality drugs to patients in China.
"We see a great potential to introduce our speciality and generics products in the growing China market and this licensing agreement is another positive step in that direction," Kal Sundaram, director of corporate development at Sun Pharma, was quoted as saying in the release.