Sun Pharma, Pharmazz enter agreement to introduce Sovateltide in India
.webp)
Pharmaceutical manufacturer Sun Pharma on Thursday announced that one of its wholly-owned subsidiaries has entered into a licenseing agreement with US-based Pharmazz Inc to introduce its drug Sovateltide in India.
Sun Pharma said in a filing that it had been granted rights for marketing Sovateltide in India under the brand name Tyvalzi. Pharmazz will be entitled to upfront and milestone payments, including royalties.
Sovateltide is indicated for treating cerebral ischemic stroke. It is a condition that occurs when a vessel supplying blood to the brain is obstructed, leading to limited oxygen supply. The chief cause of ischemic strokes is fatty deposits that line the vessel walls.
Kirti Ganorkar, chief executive officer (CEO) of Sun Pharma's India Business, said," The Phase 3 clinical trial for Tyvalzi conducted in India demonstrated statistically and clinically meaningful improvement in neurological outcomes in ischemic stroke. Tyvalzi is a first-in-class innovative drug which can help improve the quality of life of stroke patients. The drug can be administered within 24 hours for the treatment of ischemic stroke. The current treatment options provide a narrow time window of 4-5 hours limiting its use in most patients."
Dr Anil Gulati, CEO and chairman of the Board of Directors of Pharmazz, said: "It is a significant step for Pharmazz to partner with Sun Pharma, the largest pharmaceutical company in India. For patients with cerebral ischemic stroke, I believe Sun Pharma is the best partner for Pharmazz to market Tyvalzi (Sovateltide), an innovative, first-in-class novel treatment for cerebral ischemic stroke, in India."
The company said in the release that stroke is the fourth leading cause of death and the fifth leading cause of disability in India. By 2050, more than 80 per cent of the predicted global burden of new strokes of 15 million will take place in low and middle-income countries.
Sun Pharma stated that Sovateltide can be administered up to 24 hours after the onset of symptoms. India is the first global territory where Sovateltide is being introduced.
Other Latest News
.webp)
After Haryana, the BJP would also sweep the upcoming assembly elections in Maharashtra and Jharkhand, BJP president J P Nadda asserted on Friday.
Nadda, who paid obeisance at the Shri Naina Devi temple here, said the people were happy with the performance of the BJP government at the Centre led by Prime Minister Narendra Modi.
.webp)
Noel Tata, half-brother of the late Ratan Tata, has been unanimously elected as the chairman of Tata Trusts following the passing of the legendary industrialist Ratan Tata, CNBC-TV18 reported on Friday. Noel Tata is already a key trustee of the Sir Dorabji Tata Trust and the Sir Ratan Tata Trust. He will now lead the trusts that hold a controlling stake in Tata Sons, the primary holding company of the Tata Group.
The move has long been anticipated, given Noel Tata’s close involvement with Tata Trusts and his extensive experience within the conglomerate.
.webp)
After the Haryana poll debacle, Congress MP and LoP Rahul Gandhi attended the review meeting called by party president Mallikarjun Kharge at his residence in Delhi. Among those present were the party's Haryana observers Ashok Gehlot, Ajay Maken, Deepak Babaria and KC Venugopal.
Sources said that the Congress MP remained largely quite, but when his turn came, he observed two things; one being that Electronic Voting Machines (EVM) and the Election Commission of India (EC) "have much to answer" and another was that "the local leaders were more interested in their own progress than that of the party", leaving a loud silence in the room.
.webp)
Former US President Donald Trump, who is campaigning for another term in the White House, promised to introduce a system of "reciprocal tariffs" if re-elected. In an economic policy speech in Detroit on Thursday, the Republican candidate singled out India, claiming it imposes some of the highest tariffs on foreign goods among major global economies.
This is not the first time Trump has criticised India for its tariffs. Just last month, he called the nation a "big abuser" of US trade relations.
.webp)
Tamil Nadu Chief Minister M K Stalin has announced a bonus and ex-gratia for 2.75 lakh employees of state public sector undertakings and statutory boards for the 2023-24 fiscal.
Accordingly, all eligible workers of profit making PSUs under group C and D will be paid a minimum bonus of Rs 8,400 and a maximum of Rs 16,800, amounting to 8.33 per cent bonus and an ex-gratia of 11.67 per cent, an official release here said.
.webp)
.webp)
.webp)
.webp)
.webp)
