Sun Pharma acquires Odomzo (sonidegib) an approved treatment for basal cell carcinoma from Novartis.
Sun Pharmaceutical Industries Ltd and its subsidiaries or associate companies announced its plans to acquire a branded oncology product, Odomzo (sonidegib), from Novartis. The agreement has been signed between subsidiaries of both the companies and will close following anti-trust clearance and further closing conditions. The agreement has been signed for an upfront payment of US$ 175 million and additional milestone payments.
Odomzo was approved by the FDA in July 2015. Odomzo is a hedgehog pathway inhibitor 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. Approximately 70% of the prescribers are dermatologists and rest are oncologists for this class of drug.
Comment:Odomzo will compete with hedgehog inhibitor Erivedge (vismodegib) from Genentech/Roche.
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