SPARC Licenses Commercialization Rights of Elepsia™ XR to Tripoint Therapeutics

Sun Pharma Advanced Research Company Ltd. (SPARC) (Reuters: SPRC.BO, Bloomberg: SPADV IN, NSE: SPARC, BSE: 532872) today announced the grant of an exclusive license to Tripoint Therapeutics LLC, USA (Tripoint) to commercialize Elepsia™ XR 1000 mg and ElepsiaTM XR 1500 mg tablets in the USA.

Under terms of the license agreement, SPARC will be eligible to receive tiered royalties ranging from 15% to 50% on net sales. Tripoint will be responsible for all US regulatory submissions and payment of annual PDUFA fees for Elepsia™ XR 1000 mg and Elepsia™ XR 1500 mg.

The initial term of the agreement shall be 5 years and may be further extended as per mutual agreement between the parties.

"Elepsia™ XR can bring down the daily pill burden significantly and will be an alternative treatment option for patients suffering with epilepsy," said Anil Raghavan, CEO of SPARC.

President of Tripoint, Steve Squashic said "We are very excited about the relationship with SPARC and look forward to bringing Elepsia™ XR to patients in USA."

Shares of SUN PHARMA ADVANCED RESEARCH COMPANY LTD. was last trading in BSE at Rs.168.9 as compared to the previous close of Rs. 179.5. The total number of shares traded during the day was 72861 in over 1733 trades.

The stock hit an intraday high of Rs. 181.8 and intraday low of 168.05. The net turnover during the day was Rs. 12668049.

Source : Equity Bulls

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