Sun Pharmaceutical and Almirall which is a Spanish firm have entered into a licencing agreement for development and commercialisation of tildrakizumab which is used to treat psoriasis in Europe.

The companies have said in a joint statement that “Under terms of the licence agreement, Almirall will pay Sun Pharma an initial upfront payment of USD 50 million.”

It further said that Sun Pharma will be eligible of receiving development and regulatory milestone payments and additionally sales milestone payments and royalties on net sales, the terms of that are confidential.

Read EquityPandit’s Technical Analysis on Nifty Pharma