Eugia Pharma signs voluntary license with Medicines Patent Pool to develop and market generic version of Nilotinib Capsules

Aurobindo Pharma Limited (along with its subsidiaries together referred to as "Aurobindo") has announced that its wholly owned subsidiary company, Eugia Pharma Specialities Limited (Eugia), has entered voluntary sub-licensing agreement with Medicines Patent Pool (MPP), to develop and market Nilotinib Capsules, originally developed by Novartis, for the treatment of chronic myeloid leukemia (CML) in 44 Low and Middle-Income Countries (LMIC), including the seven countries where patents on the product are pending or in force.

The product will be produced at the Eugia Pharma Specialities Ltd. Unit-I, Medchal, Malkajgiri District, Telangana, India. The company has adequate capacities of world class standards, to meet the global demand for the product across the licensed territory.

Mr. K. Nithyananda Reddy, Vice Chairman & Managing Director, Aurobindo said, "We are excited that Eugia has been granted the voluntary license from MPP to develop, manufacture & distribute generic Nilotinib Capsules in select markets. These are the first sublicence agreements that MPP has signed for a cancer treatment that will be made available in the LMIC, through this license. This product will be a good addition to Aurobindo's Oncology portfolio and will further strengthen our leadership in the generic Oncology medicine space. We are looking forward to start supplying the product at the earliest and to help reducing the risk chronic myeloid leukemia (CML) in certain patients.

Charles Gore, Executive Director of the Medicines Patent Pool said, "We are delighted to be working with these four generic manufacturers to develop generic nilotinib and bring an affordable treatment option to people diagnosed with CML in these countries. At MPP, we are determined to show that voluntary licensing is a truly impactful way of delivering affordable treatments to tackle the ever-rising burden of cancer in LMICs."

Shares of Aurobindo Pharma Limited was last trading in BSE at Rs. 699.00 as compared to the previous close of Rs. 671.20. The total number of shares traded during the day was 93728 in over 3989 trades.

The stock hit an intraday high of Rs. 700.85 and intraday low of 665.65. The net turnover during the day was Rs. 64694011.00.

Source : Equity Bulls

Keywords

AurobindoPharma INE406A01037 EugiaPharmaSpecialities MedicinesPatentPool NilotinibCapsules