"One of the company''s wholly owned subsidiaries has granted an exclusive licence to a subsidiary of CMS to develop and commercialise seven generic products in Mainland China," Sun Pharma said in a statement.
The collaboration with CMS now covers eight generic products including these seven products, it added.
The company however did not mention the name of the products.
"The total addressable market size for all these eight products is about USD 1 billion (as per recent IQVIA data) in Mainland China," Sun Pharma said.
The initial term of the agreement shall be 20 years from the first commercial sale of the respective products in Mainland China and may be extended for additional three years'' as per mutual agreement of the two parties, it added.
Commenting on the development, Sun Pharma Managing Director Dilip Shanghvi said: "This collaboration gives us entry into the Chinese generic pharmaceutical market. We see lot of potential in China for both, our generics and speciality portfolio."
With more than 65 per cent generics penetration, China represents a significant opportunity for generic pharmaceutical companies, he added.
In June 2019, Sun Pharma had announced collaboration with CMS on two speciality products, Tildrakizumab and Cyclosporine A 0.09 per cent eye drops for the Greater China market, the statement said.
Shares of Sun Pharmaceutical Industries closed at Rs 414.75 on BSE, down 0.55 per cent from the previous close. PTI AKT MR
Disclaimer :- This story has not been edited by Outlook staff and is auto-generated from news agency feeds. Source: PTI