Pharmaceutical giant Sun Pharmaceutical and Samsung BioLogics on Sunday announced a strategic long-term manufacturing tie-up for Tildrakizumab used for the treatment of psoriasis.
"The agreement was entered into by Sun Pharma's wholly-owned subsidiary and Samsung BioLogics...Sun Pharma has appointed Samsung BioLogics to manufacture Tildrakizumab, an investigational IL-23p19 inhibitor being evaluated for the treatment of moderate to severe plaque psoriasis," the company said in a BSE filing.
Sun Pharma said the approximate value of the contract will be USD 55.5 million, other financial details of the agreement are confidential.
It further said: "Filings for this novel investigational biologic has been accepted for review by the US Food and Drug Administration (FDA) (May 2017) and the European MedicinesAgency (EMA) (March 2017)".
The agreement was signed at Samsung BioLogics' headquarter in Incheon, South Korea. Shares of Sun Pharma were trading 0.55 per cent lower at Rs 548.45 on BSE.