Sun Pharma gains after licensing agreement with Ferring Pharma for Caritec in India

Sun Pharmaceutical Industries rose 1.01% to Rs 678 after the company said that it has entered into a license agreement with Ferring Pharmaceuticals to commercialize obstetric drug, Caritec in India.Sun Pharmaceutical Industries announced that one of its wholly owned subsidiaries has entered into a license agreement with Ferring Pharmaceuticals (Ferring), a subsidiary of Switzerland-based biopharmaceuticals MNC Ferring Pharmaceuticals, to commercialize a Room Temperature Stable (RTS) formulation of obstetric drug, Caritec (Carbetocin RTS) in India.
Caritec is indicated for the prevention of excessive bleeding in women after vaginal or caesarean child birth. The condition is commonly known as post-partum hemorrhage (PPH).
As per agreement terms, Sun Pharma is granted rights for co-marketing of the drugin India in the private market under the brand name Caritec. Ferring has developed the drug and received approval from the Drugs Controller General of India (DCGI) for introducing the drug in India.

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