Sun Pharma To Buy Global Rights To Merck's Product Candidate Tildrakizumab

(RTTNews) - Healthcare giant Merck & Co. Inc. (MRK) said Wednesday India-based Sun Pharmaceutical Industries Ltd. will buy worldwide rights to Merck's investigational drug tildrakizumab for an upfront payment of $80 million. Tildrakizumab is currently being evaluated in Phase 3 trials for the treatment of chronic plaque psoriasis, a skin ailment. As per the deal, Sun Pharma agreed to fund all clinical development and regulatory activities, which will be continued by Merck. Following the product's approval, Sun Pharma will take over all regulatory activities, including subsequent submissions, pharmacovigilance, post approval studies, manufacturing and commercialization of the approved product. In addition, Merck will get undisclosed payments associated with regulatory and sales milestones, as well as tiered royalties ranging from mid-single digit through ten percentage rates on sales. Commenting on the deal, Kirti Ganorkar, Senior vice president, Business development, Sun Pharma, said: "...This collaboration is a part of our strategy towards building our pipeline of innovative dermatology products in a market with strong growth potential."