Sun Pharma, India's largest drugmaker, announced that the U.S. FDA has approved its biologic drug branded, Ilumya, for the treatment of moderate to severe plaque psoriasis.
In September 2014, Sun Pharma licensed the drug from Merck in a deal worth $80 million. The drug was in Phase III trials at the time, and the deal mandated that Merck continued all clinical development and regulatory activities, funded by Sun Pharma.Through the deal, Merck is eligible to receive undisclosed payments associated with regulatory (including product approval) and sales milestones.
The approval of Ilumya is a milestone for India's generic giant, marking a large step in the company’s bid to diversify out of generic drugs by building a portfolio of novel drugs.
Read the press release