Sun Pharmaceutical Industries Limited announced a licensing agreement between one of its wholly-owned subsidiaries and Pharmazz Inc., a U.S. biopharmaceutical company. The collaboration aims to introduce Sovateltide, an innovative drug designed to treat acute cerebral ischemic stroke, to the Indian market. Sovateltide, developed by Pharmazz, is a groundbreaking medication that can be administered up to 24 hours after the onset of symptoms.

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Under the agreement, Sun Pharma gains exclusive marketing rights for Sovateltide in India, branding it as Tyvalzi™ (Sovateltide). Pharmazz will receive upfront and milestone payments, along with royalties.

Stroke is a major health concern in India, with incident cases estimated at 1,175,778. It ranks among the top causes of death and disability, making Sovateltide’s extended treatment window an advancement in stroke care.

However, the shares were down by 0.44 per cent to Rs. 1142.92 at 12.14 p.m. on the BSE