Sun Pharma stock ends higher after entering into exclusive patent licensing agreement Lundbeck

30 Mar 2022 , 04:28 PM

Sun Pharmaceutical Industries announced that one of its wholly-owned subsidiaries has entered into an exclusive patent licensing agreement with H. Lundbeck A/S (“Lundbeck”) to market and distribute its own version of Vortioxetine in India under the brand name, VORTIDIFTM. The territory of the licensing agreement will only cover India.

In the regulatory filing, Vortioxetine is a novel antidepressant with multimodal activity, which is approved to treat Major Depressive Disorder (MDD) in adults.

The product is approved in over 80 countries, including the US, EU, Canada and Australia, the company said in the filing.

Kirti Ganorkar, CEO of India Business, Sun Pharma, said, “Sun Pharma is the leader in the neuro-psychiatry therapy in India and we always endeavour to bring innovative medicines that fill a need gap. MDD is a serious and complicated disorder and VORTIDIFTM will serve as an important novel treatment option for patients in India.”

Sun Pharma is ranked No. 1 by prescriptions and value amongst Neurologists & Psychiatrists in India (IMS MAT Jan 2022). With a strong product portfolio, Sun Pharma’s CNS division constantly strives to provide innovative solutions to patients and health care providers in India, it added.

The stock ended at Rs920.35 up by Rs0.85 or 0.09% from its previous closing of Rs919.50 on the BSE. The scrip opened at Rs920 and touched a high and low of Rs921.95 and Rs908.30 respectively.