Sun Pharma rises after licensing deal with Almirall

NEW DELHI: Shares of Sun Pharma, India's largest drugmaker, rose over 1 per cent in the morning trade on Thursday after it signed a licensing agreement with Spanish firm Almirall for development and commercialisation of tildrakizumab, its lead investigational compound for moderate-to-severe plaque psoriasis.

Almirall will be able to lead the European studies and participate in larger global clinical studies for psoriasis indication. The agreement between Sun Pharma and Almirall will be subject to the exclusive license agreement between Sun Pharma and Merck signed in 2014, a PTI report said.

At 11:01 am, shares of the company were trading at Rs 817.80 per share, up 1.24 per cent from its previous close on the Bombay Stock Exchange (BSE).