Sun Pharma acquires Novartis' oncology brand Odomzo
The Dollar Business Bureau Mumbai-based pharmaceutical company Sun Pharma has acquired a branded oncology product, Odomzo (sonidegib), from Novartis after making an upfront payment of $175 million (about Rs 1180 crore) and some additional milestone payments. The deal has been fixed between subsidiaries of both the companies and will be finalised after putting in place some anti-trust clearance and further closing conditions. Odomzo is a hedgehog pathway inhibitor which was approved by the US FDA in July 2015. It has been indicated for the treatment of adult patients with locally advanced basal cell carcinoma (laBCC) that has recurred following surgery or radiation therapy, or those who are not candidates for surgery or radiation therapy. The prescription of these drugs is made by around ...
Strides Shasun to divest its UK arm for Rs.240 cr
The Dollar Business Bureau Pharma firm Strides Shasun Ltd has taken a decision to divest its UK-based subsidiary Shasun Pharma Solutions Ltd (SPSL) to its current management for a value of £25 million (about Rs.240 crore). The company in a statement filed to BSE said, “The board of directors in a meeting on Tuesday cleared the divestment of SPSL, UK, to its current management team with investment by the Strides Shasun’s promoter group for an enterprise value of £25 million.” In 2006, Shasun had bought SPSL from Rhodia Pharma Solutions, a leading player in the domain of Contract Research Manufacturing Services (CRAMS). Since 2014, SPSL’s current management has shifted its focus from being a core CRAMS player to multiple industry domains including services, ...
Indian firm gets nod to sell pain relieving tablets in US
Shasun Pharmaceuticals got the approval from United States Food & Drug Administration (USFDA) for selling carisoprodol tablets in the US market The Dollar Business Bureau Indian drug maker Shasun Pharmaceuticals on Monday said that it has got the approval from United States Food & Drug Administration (USFDA) for selling its pain relieving tablets in the US market. The approval has come for carisoprodol tablets with 250 mg and 350mg strength. The drug has estimated market size of $38 million. Carisoprodol tablets 250 mg and 350 mg have sales of approximately $38 million. While the 350 mg has a few generic players, Shasun expects to be the first marketed generic player in the $16 million Carisoprodol tablets of 250 mg opportunity, the company said in ...
