Sun Pharma signs pact with CMS for generic drug sales in China
Category: #health  By Pankaj Singh  Date: 2019-08-20
  • share
  • Twitter
  • Facebook
  • LinkedIn

Sun Pharma signs pact with CMS for generic drug sales in China
  • The pharmaceutical company has entered into an agreement with China Medical System Holdings to manufacture and manage 7 generic products in Mainland China.
     
  • The company shares rose to 4.69% to hit a day high of Rs. 434.20 on the BSE.

Mumbai based Sun Pharma has reportedly inked a licensed collaboration with China Medical System Holdings for the sales of seven generic pharmaceutical products in Mainland China. Apparently, the Sun Pharma share price elevated as much as 4.7% to hit high of Rs. 434.20 compared with its closing price of Rs.414.70 on Friday on the National Stock Exchange.

As per trusted reports, one of the subsidiaries of the company initiated an agreement with CMS Holdings to manufacture and promote and manage 7 generic products in Mainland China.

For the uninitiated, Hong Kong based China Medical System Holdings is an investment holding company primarily engaged in the manufacturing, advertising and promotion of the pharmaceutical products.

As per sources with the knowledge on the matter, the company’s collaboration with CMS would now comprise over 8 generic products. The overall addressable market size for the products has been estimated to be about USD 1 billion in Mainland China. The preliminary terms of the agreement have been kept for 20 years from the first commercial sale of the products in Mainland China and are expected to be extended for additional 3 years' according to the mutually agreed contract between the two parties.

Speaking on the collaboration, Dilip Shanghvi, the managing director at Sun Pharma cited that the collaboration offers the company an entry into the Chinese pharmaceutical market. With over more than 65% penetration of generics in the nation, China characterizes a significant opportunity for generic pharmaceutical companies, Shanghvi added.

Apparently, the Sun Pharma shares closed 2.66% higher at Rs. 425.80 outdoing the Sensex which rose over 0.14%.

Post the announcement, the shares of Sun Pharma rose to 4.69% up to Rs. 434.20 on BSE.

Source credit: https://www.ndtv.com/business/sun-pharma-share-price-sun-pharma-surges-on-agreement-to-sell-generic-products-in-mainland-china-2087037

  • share
  • Twitter
  • Facebook
  • LinkedIn


About Author

Pankaj Singh    

Pankaj Singh

With an experience as an insurance underwriter and a freelance writer under his belt, Pankaj Singh boasts of quite some expertise in the field of content creation. A qualified Post Graduate in Management, Pankaj has also completed a detailed course in Digital Marketin...

Read More

More News By Pankaj Singh

Personalis unveils new service for cancer whole genome sequencing
Personalis unveils new service for cancer whole genome sequencing
By Pankaj Singh

  The new launch of the services will help the company expand its oncology portfolio Personalis has been able to sequence more than 40,000 MVP samples since 2013. Personalis, Inc., a leading advanced genomics firm for cancer, recently unve...

Celltrion depicts CT-P13 SC efficacy for treating rheumatoid arthritis
Celltrion depicts CT-P13 SC efficacy for treating rheumatoid arthritis
By Pankaj Singh

Celltrion Healthcare, a biopharmaceutical company, recently announced data from a study further investigating efficacy, safety, immunogenicity & pharmacokinetics of CT-P13 SC, over a period of 1-year treatment. The study focuses on the results ac...

Symphony partners with Tencent to ease business connectivity on WeChat
Symphony partners with Tencent to ease business connectivity on WeChat
By Pankaj Singh

  The collaboration is claimed to be one of a kind as it will bring together two main global communities Symphony users will be allowed to interact with the clients on Weixin (WeChat) in real-time Symphony, provider of safe cloud collabora...