Sun Pharmaceutical Industries on Monday said it has inked a settlement pact with US-based Incyte Corporation regarding Leqselvi, a drug used for severe hair loss.
Under the terms of agreement, the parties will seek dismissal of the pending Leqselvi litigation in the US District Court for the District of New Jersey, and Sun and Incyte will mutually release each other of all claims that were raised or could have been raised in that litigation, the Mumbai-based drug major said in a statement.
As a part of the agreement, Incyte has granted to Sun a limited, non-exclusive license to US Patent Nos. 9,662,335 and certain other related patents with respect to oral deuruxolitinib for certain agreed-upon non-hematology-oncology indications, including alopecia areata, in the US, it added.
Sun will pay Incyte an upfront amount, plus ongoing royalty payments until the expiry of the patents, in exchange for the settlement and license, it stated.
Other specific terms of the settlement and license agreement are confidential, it added.
Shares of Sun Pharma on Monday ended 0.54 per cent up at Rs 1,681.45 apiece on the BSE.
Under the terms of agreement, the parties will seek dismissal of the pending Leqselvi litigation in the US District Court for the District of New Jersey, and Sun and Incyte will mutually release each other of all claims that were raised or could have been raised in that litigation, the Mumbai-based drug major said in a statement.
As a part of the agreement, Incyte has granted to Sun a limited, non-exclusive license to US Patent Nos. 9,662,335 and certain other related patents with respect to oral deuruxolitinib for certain agreed-upon non-hematology-oncology indications, including alopecia areata, in the US, it added.
Sun will pay Incyte an upfront amount, plus ongoing royalty payments until the expiry of the patents, in exchange for the settlement and license, it stated.
Other specific terms of the settlement and license agreement are confidential, it added.
Shares of Sun Pharma on Monday ended 0.54 per cent up at Rs 1,681.45 apiece on the BSE.
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