Sun Pharma to buy drug from Novartis for $175m

Mumbai: Sun Pharma has announced plans to acquire branded oncology drug, Odomzo from

Novartis

for an upfront amount of $175 million, and additional milestone payments. The agreement has been signed between subsidiaries of both companies and will conclude after anti-trust clearance and further closing conditions, says a company statement. The transaction gives Sun

Pharma

its first branded oncology product, and extends its commitment in dermatology, it adds.

Odomzo has marketing approval in over 30 countries globally including the US, Europe and Australia. Odomzo (Sonidegib) was approved by USFDA in July 2015, and is a hedgehog pathway inhibitor indicated for treatment of adult patients with locally advanced basal cell carcinoma 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. According to IMS Health, the hedgehog inhibitor class grew by 40% in October 2016 (year-to-date).

According to Kirti Ganorkar, global head (business development), Sun Pharma, “Odomzo gives us an opportunity to meaningfully expand our already established branded dermatology business and support our expansion into branded oncology with a launched brand.”

Jesper Jensen, head (biologics and dermatology), Sun Pharma, said, “We look forward to collaborating with the medical community to bring this novel therapy to the market to patients suffering from locally advanced basal cell carcinoma. Odomzo complements and enhances our existing dermatology franchise. This acquisition has the potential to leverage and expand the relationships that our Levulan sales team have with the dermatologists that treat common precancerous skin conditions.”