Shares of Sun Pharmaceutical Industries Ltd. fell by 1% after reaching a day’s high of Rs 1,934.75 on 1st October. This followed the company’s announcement that it had signed a global licensing agreement with the Italian-Swiss company Philogen to commercialise its speciality product, Fibromun.

The two companies have entered an exclusive global commercialisation, licence, and supply agreement for Fibromun, an anti-cancer immunotherapy with few available therapeutic alternatives. Fibromun is currently undergoing registration trials by Philogen to treat soft tissue sarcoma and glioblastoma.

According to the agreement’s terms, the company will hold the exclusive worldwide rights to commercialise Fibromun, while Philogen will continue the product’s ongoing clinical trials.

The Italian Swiss company will also seek marketing authorisation for the speciality product from regulatory authorities while handling the manufacturing of commercial supplies.

Fibromun has the potential to be a significant treatment option for soft-tissue sarcomas and other cancers with considerable unmet medical needs. The post-commercialisation profits will be shared between the two companies in a ratio of 45:55, with Philogen receiving 45% and Sun Pharma 55%.

Last year, the two companies entered an exclusive distribution, licence, and supply agreement to commercialise the speciality product Nidlegy in Europe, Australia, and New Zealand.

As part of the latest development, the first marketing authorisation application for Nidlegy has been submitted to the European Medicines Agency (EMA) to treat locally advanced, fully resectable melanoma in the neoadjuvant setting.

At 1:24 PM, the shares of Sun Pharma were trading 0.68% lower at Rs 1,913.65 on NSE.

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