Sun Pharma to acquire InSite Vision
Sun Pharma has announced its one of the subsidiary entering into an agreement and plan of merger with InSite Vision Inc. (InSite Vision). Under this agreement the subsidiary has offered to acquire InSite Vision. InSite Vision focuses on developing new specialty ophthalmic products, including three late stage programs.
Jerry St. Peter, Vice President and Head of Sun Pharma’s US Ophthalmic Business said InSite Vision will bring with it a pipeline of three latestage clinical candidates, validated drug delivery technology and a track record of achieving USFDA approval for ophthalmic products.â€
Kal Sundaram, CEO of Sun Pharma’s North American Business said “This potential acquisition is a part of our overall objective of transitioning to a specialty company. Besides dermatology, we have identified ophthalmics as one of the key segments for establishing our branded presence in US.â€
Dr Reddy’s Inks Commercialisation Deal with HatchtechDr Reddy’s Laboratories has signed a commercialisation deal with Hatchtech, an Australian pharmaceutical company for developing an innovative prescription head lice product, Xeglyze Lotion. The exclusive rights for this product are applicable for the territories of the United States, Canada, India, Russia and the CIS, Australia, New Zealand and Venezuela. Hatchtech had announced that it will be filing its New Drug Application for Xeglyze with the US Food and Drug Administration (FDA). If approved, the product will be marketed in US by Promius Pharma. As part of the agreement Dr Reddy’s will pay Hatchtech an upfront amount of US$ 10 million, up to US$ 50 million based on pre commercialisation milestones and an undisclosed amount based on post commercialisation milestones, linked to achievement of annual net sales targets. |
GSK Pharma’s `1,000 crore Manufacturing Unit in Karnataka
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