Sun Pharma to buy Novartis' cancer drug Odomzo

NEW DELHI: Drug major, Sun Pharmaceutical today said it plans to acquire branded oncology product Odomzo from Novartis for an upfront payment of $ 175 million.

The company, in its regulatory filing to stock exchanges, said the agreement has been signed between the subsidiaries of Sun Pharma and Novartis to buy Odomzo for an upfront payment of $ 175 million and additional milestone payments.

Odomzo is used for treatment of adult patients with labcc that has recurred following surgery or radiation therapy.