Sun Pharma Says XELPROS Gets FDA Approval To Treat Open-angle Glaucoma: Stock Up

(RTTNews) - India- based Sun Pharmaceutical Industries Ltd. and Sun Pharma Advanced Research Company Ltd. or SPARC announced Friday U.S. Food and Drug Administration approval of XELPROS to treat open-angle glaucoma or ocular hypertension. In India, Sun Pharma shares were gaining around 2 percent.

The approval was for the New Drug Application or NDA of XELPROS (latanoprost ophthalmic emulsion) 0.005% for the reduction of elevated intraocular pressure -IOP, or pressure inside the eye- in patients with open-angle glaucoma or ocular hypertension. This approval is from Sun Pharma's Halol facility in Gujarat, India.

Sun Pharma in-licensed XELPROS from SPARC in June 2015 and this approval will trigger a milestone payment to SPARC. SPARC is also eligible for milestone payments and royalties on commercialization of XELPROS in the US.

The company noted that XELPROS is the first and only form of latanoprost that is not formulated with benzalkonium chloride (BAK), a preservative commonly used in topical ocular preparations. XELPROS is developed using SPARC's proprietary Swollen Micelle Microemulsion (SMM) technology.

In India, Sun Pharma shares were trading at 662.50 Indian Rupee, up 1.94 percent.