Aug 19, 2019, 11.07 AM IST
ReutersThe total addressable market size for all these eight products is about $1 billion (as per recent IQVIA data) in Mainland China, Sun Pharma said.Shares of Sun Pharmaceutical Industries gained nearly 4 per cent in early trade on Monday after it informed bourses that one of its arms has granted an exclusive licence to a subsidiary of China Medical System Holdings Ltd (CMS) to develop and commercialise seven generic products in Mainland China.The scrip was trading 3.74 per cent up at Rs 430.25 at around 10.20 am (IST), while the benchmark BSE Sensex was up 267 points, or 0.72 per cent, at 37,618 at around the same time. One of the company's wholly owned subsidiaries has granted an exclusive licence to a subsidiary of CMS to develop and commercialise seven generic products in Mainland China, Sun Pharma said in a statement.The collaboration with CMS now covers eight generic products including these seven products, it added. The total addressable market size for all these eight products is about $1 billion (as per recent IQVIA data) in Mainland China, Sun Pharma said.The initial term of the agreement shall be 20 years from the first commercial sale of the respective products in Mainland China and may be extended for additional three years' as per mutual agreement of the two parties, it added.Commenting on the development, Sun Pharma Managing Director Dilip Shanghvi said: This collaboration gives us entry into the Chinese generic pharmaceutical market. We see lot of potential in China for both, our generics and speciality portfolio. Also Read
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