AstraZeneca and Sun Pharma Come Together to Distribute Cancer Drugs in China
On Wednesday, Indian drugmaker Sun Pharmaceutical Industries Ltd. said that Britain’s AstraZeneca would distribute some of Sun’s cancer treatment drugs in China.
Shares of the company rose as much as 5.4% to a nine-week high after the announcement.
As per the licensing agreement, Sun will be responsible for the development, regulatory filings and manufacturing of the drugs, while AstraZeneca will exclusively promote and distribute the products in China. Financial terms of the agreement, which has an initial tenure of 10 years, were not disclosed. The company did not name the drugs covered under the agreement.
Cancer has been on the rise in China, driven by air pollution and high rates of smoking. Water pollution and excessive use of chemical fertilisers and pesticides have also been blamed for an increase in cancer rates in rural areas.
“We see a great potential to introduce our speciality and generic products in the growing China market,” said Kal Sundaram, Sun Pharma’s director of corporate development.
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