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A licensing arrangement has been entered between Sun Pharma Advanced Research Company (SPARC) and its parent Sun Pharma for its Elepsia tablets that are used in the treatment of epilepsy, in the US market for an up-front payment of USD 10 million.
SPARC has said in a BSE filing that “As per the agreement, SPARC will licence Elepsia XRTM (Levetiracetam Extended Release tablets) to a wholly-owned subsidiary of Sun Pharma for the US market. SPARC will receive an up-front payment USD 10 million from Sun Pharma.”
The company further said that it is also eligible for certain additional milestone payments and defined royalties linked to any future sales of Elepsia XRTM.
