Sun Pharmaceutical Industries Ltd. (Reuters: SUN.BO, Bloomberg: SUNP IN, NSE: SUNPHARMA, BSE: 524715, "Sun Pharma" and includes its subsidiaries and/or associate companies) and Sun Pharma Advanced Research Company Ltd. (Reuters: SPRC.BO, Bloomberg: SPADV IN, NSE: SPARC, BSE: 532872, "SPARC") today announced U.S. Food and Drug Administration (USFDA) approval for the New Drug Application (NDA) of XELPROS™ (latanoprost ophthalmic emulsion) 0.005% for the reduction of elevated intraocular pressure (IOP, or pressure inside the eye) in patients with open-angle glaucoma or ocular hypertension. This approval is from Sun Pharma's Halol (Gujarat, India) facility.
Sun Pharma in-licensed XELPROS™ from SPARC in June 2015 and this approval will trigger a milestone payment to SPARC. SPARC is also eligible for milestone payments and royalties on commercialization of XELPROS™ in the US.
XELPROS™ is the first and only form of latanoprost that is not formulated with benzalkonium chloride (BAK), a preservative commonly used in topical ocular preparations. XELPROS™ is developed using SPARC's proprietary Swollen Micelle Microemulsion (SMM) technology.
"As the only BAK-free version of latanoprost, XELPROS™ will be an important and alternative treatment option for individuals with open-angle glaucoma or ocular hypertension," said Abhay Gandhi, CEO, North America, Sun Pharma. "This approval, coming less than one month following the approval of CEQUA™ (cyclosporine ophthalmic solution) 0.09%, reaffirms the strength of Sun Pharma's fast-growing Ophthalmics division and its commitment to serving the needs of patients with ocular disorders."
Anil Raghavan, CEO, SPARC said, "Approval of XELPROS™ by USFDA is a significant milestone for SPARC. It is also a validation of our SMM technology which helps to solubilize drugs that have limited or no solubility thus eliminating the need for benzalkonium chloride (BAK)."
In randomized, controlled clinical trials of patients with open-angle glaucoma or ocular hypertension with a mean baseline Intraocular pressure (IOP) of 23-26 mmHg, XELPROS™ lowered IOP by a mean of up to 6-8 mmHg.
XELPROS™ will be commercialized in the U.S. by Sun Ophthalmics, the branded ophthalmic division of Sun Pharmaceutical Industries Ltd.'s wholly owned subsidiary.
Shares of SUN PHARMACEUTICAL INDUSTRIES LTD. was last trading in BSE at Rs.649.85 as compared to the previous close of Rs. 631.05. The total number of shares traded during the day was 796849 in over 11543 trades.
The stock hit an intraday high of Rs. 654.6 and intraday low of 620. The net turnover during the day was Rs. 511394610.
Shares of SUN PHARMA ADVANCED RESEARCH COMPANY LTD. was last trading in BSE at Rs.383.45 as compared to the previous close of Rs. 380.55. The total number of shares traded during the day was 42557 in over 1158 trades.
The stock hit an intraday high of Rs. 387 and intraday low of 375.6. The net turnover during the day was Rs. 16289138.