On Thursday Sun Pharmaceutical Industries said one of its wholly-owned subsidiary unit has tied up with US-based Pharmazz Inc to commercialise a drug used to treat cerebral ischemic stroke in India.
One of the company’s wholly-owned subsidiaries has entered into a license agreement with the US-based biopharmaceutical company to commercialise a first-in-class innovative drug, Tyvalzi, in the country, the Mumbai-based drug major said in a statement.
Sovateltide is a medication made by Pharmazz with the goal of treating cerebral ischemic stroke on a global scale.
The company said that as per agreement terms, Sun Pharma is granted rights for marketing Sovateltide in India under the brand name Tyvalzi (Sovateltide), the company said.
Pharmazz will be entitled to upfront and milestone payments, including royalties, it added.
“The Phase 3 clinical trial for Tyvalzi conducted in India demonstrated statistically and clinically meaningful improvement in neurological outcomes in ischemic stroke,” Sun Pharma India Business CEO Kirti Ganorkar said.
Tyvalzi is a first-in-class innovative drug that can help improve the quality of life of stroke patients, he added.
The medication can be used to treat ischemic stroke within 24 hours. The time window for most patients’ use of the current therapeutic choices is only 4-5 hours.
“For patients with cerebral ischemic stroke, I believe Sun Pharma is the best partner for Pharmazz to market Tyvalzi,” Chairman of the Board of Directors of Pharmazz Anil Gulati stated.
Shares of Sun Pharma were trading 0.51 per cent down at Rs 1,142.85 apiece on the BSE
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