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Last Updated : Jan 14, 2019 12:19 PM IST | Source: Moneycontrol.com

SPARC rises 4% on milestone payment from parent co after commercialisation of Xelpros

Xelpros is used in the treatment for the reduction of elevated intraocular pressure (IOP, or pressure inside the eye) in patients with open-angle glaucoma or ocular hypertension.

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Sun Pharma Advanced Research Company shares gained 4.5 percent intraday Monday after receiving milestone payment from the parent company after commercialisation of Xelpros drug.

"Consequent to the receipt of US Food and Drug Administration approval, Sun Pharmaceutical Industries has informed SPARC about commercialisation of Xelpros (Latanoprost ophthalmic emulsion) 0.005%," the research company said.

SPARC had out-licensed Xelpros to Sun Pharma in June 2015 and this commercialisation of Xelpros has triggered a milestone payment of USD 10 million and sales linked royalties, by Sun Pharma to SPARC, it added.

The drug is used in the treatment for the reduction of elevated intraocular pressure (IOP, or pressure inside the eye) in patients with open-angle glaucoma or ocular hypertension.

Both companies had received approval from USFDA for this drug in September 2018 and this approval was from Sun Pharma's Halol (Gujarat, India) facility.

At 11:56 hours IST, Sun Pharma Advanced Research Company was quoting at Rs 186.05, up Rs 2.25, or 1.22 percent and Sun Pharmaceutical was up 0.55 percent at Rs 445.65 on the BSE.
First Published on Jan 14, 2019 12:19 pm
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