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Date
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Announcement
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30-May-2023
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Sun Pharmaceutical Industries and Philogen S.p.A (BIT: PHIL) today announced that they have entered into a licensing agreement for commercializing Philogen's specialty product, Nidlegy™ (Daromun) in the territories of Europe, Australia and New Zealand.
Nidlegy™, currently in Phase III clinical trials, is a new anti-cancer biopharmaceutical which is being developed by Philogen for the treatment of melanoma and non-melanoma skin cancers.
Under the terms of the agreement, Sun Pharma will have exclusive rights to commercialise Nidlegy™ for indications of skin cancers in the territories of Europe, Australia and New Zealand.
Philogen will complete pivotal clinical trials for the product in Europe, pursue Marketing Authorization with the regulatory authorities and manufacture commercial supplies. Sun Pharma will be responsible for commercialization activities. The two partner companies will share post-commercialization economics in about 50:50 ratio. Other financial terms were not disclosed.
Philogen will retain the IP rights for Nidlegy™ for other territories and indications other than skin cancers.
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29-May-2023
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Sun Pharmaceuticals Industries announced that the Board of Directors of the Company at its meeting held on 26 May 2023, inter alia, have recommended the final dividend of Rs 4 per equity Share (i.e. 400%) , subject to the approval of the shareholders.
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27-May-2023
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Sun Pharmaceuticals Industries on 26 May 2023 has issued a letter to the Board of Directors of Taro Pharmaceutical Industries, Israel (Taro) with a proposal containing a non-binding indication of interest to acquire all of the outstanding ordinary shares in Taro, other than any shares already held by the Company or its affiliates (For a purchase price of $38 per ordinary share) (Proposed Transaction).
The Proposed Transaction to be consummated in the form of a reverse triangular merger under the Israeli Companies Law, 1999 (ICL) and practice. In this context, Purchaser shall form a wholly owned subsidiary (SPV), which shall enter into a merger agreement with Taro, with
the SPV merging with and into Taro and Taro surviving the merger transaction. Consequently, Taro shall become a wholly owned subsidiary of Purchaser and be de-listed from NYSE.
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12-May-2023
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Sun Pharmaceuticals Industries will hold a meeting of the Board of Directors of the Company on 26 May 2023.
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25-Apr-2023
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Sun Pharmaceutical Industries announced that one of its wholly-owned subsidiaries has launched a novel ophthalmology treatment, CEQUA®, in India for patients who have Dry Eye Disease (DED) with inflammation, a commonly occurring condition. CEQUA® is the first dry eye treatment available in India that is delivered with nanomicellar (NCELL®) technology.
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24-Apr-2023
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Sun Pharmaceutical Industries has received a letter titled “CONSENT DECREE CORRESPONDENCE/NON-COMPLIANCE LETTER” from the US FDA.
US FDA has directed the Company to take certain corrective actions at the Mohali facility before releasing further final product batches into
the US. These actions include, among others, retaining an independent CGMP expert to conduct batch certifications of drugs manufactured at the Mohali facility.
The Company is taking required corrective steps, but there will be a temporary pause in release of batches from Mohali until US FDA mandated measures are implemented. US shipments from Mohali will resume once these measures are in place
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27-Mar-2023
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Sun Pharmaceutical Industries announced a further update to the IT security incident.
The Company promptly took steps to contain and remediate the impact of the IT security incident, including employing containment and eradication protocols to mitigate the threat and additional measures to ensure the integrity of its systems infrastructure and data. These measures are underway as the Company utilizes global cyber security experts and enhanced security measures to address and mitigate the impact of the incident. A ransomware group has claimed responsibility for this incident.
The Company currently believes that the incident's effect on its IT systems includes a breach of certain file systems and the theft of certain company data and personal data.
'As part of the containment measures, we proactively isolated our network and initiated the recovery process. As a result of these measures, Company's business operations have been impacted. Consequently, revenues are expected to be reduced in some of our businesses. The Company would incur expenses in connection with the incident and the remediation. The Company is currently unable to determine other potential adverse impacts of the incident, including but not limited to additional information security incidents, increased costs to maintain insurance coverage, the diversion of management and employee time or the possibility of litigation', said the company.
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24-Mar-2023
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Sun Pharmaceutical Industries has entered into an agreement to acquire 60% shareholding in Vivaldis Health And Foods from its existing shareholders with remaining 40% shareholding to be acquired in future as per certain terms & conditions.
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20-Feb-2023
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Sun Pharmaceutical Industries has entered into agreements to acquire minority stake in the following entities which are non-material investments by the Company in the allied areas.
1. Agreement to acquire equity shares (up to 26.09%) of Agatsa Software, which is is an early-stage digital diagnostic devices company.
2. Agreement to acquire equity shares (27.39%) of Remidio Innovative Solutions, which provides innovative products enabling early detection of eye diseases.
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10-Feb-2023
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Sun Pharmaceutical Industries announced that one of its wholly owned subsidiaries has received final approval from US FDA for its Abbreviated New Drug Application (ANDA) for generic lenalidomide Capsules, 5mg, 10mg, 15mg, 25mg and tentative approval for 2.5mg, 20mg. The respective product approval is based on Revlimid® Capsules, 5mg, 10mg, 15mg, 25mg and 2.5mg, 20mg as a reference product.
In June 2021, Sun Pharma had entered into a settlement with Celgene Corporation (Celgene) to resolve the patent litigation regarding Sun Pharma's generic lenalidomide capsules. Pursuant to the terms of this
settlement, Celgene granted Sun Pharma a license to Celgene's patents required to manufacture and sell certain limited quantity of generic lenalidomide capsules in the US beginning sometime after March
2022. In addition, the license allows Sun Pharma to manufacture and sell an unlimited quantity of generic lenalidomide capsules in the US beginning 31 January 2026.
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