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    SPARC jumps 11% on entering into a deal with China Medical Systems

    SPARC jumps 11% on entering into a deal with China Medical Systems

    SPARC jumps 11% on entering into a deal with China Medical Systems
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    By Mousumi Paul   IST (Published)

    The share price of Sun Pharma Advanced Research Company (SPARC) rallied 11 percent intraday on Wednesday after the company entered into a licensing deal with China Medical System Holdings (CMS).
    At 9:36 am, the stock was trading 9.43 percent higher at Rs 156.05 on the NSE while intraday, it rallied 11.15 percent to touch Rs 158.50. Meanwhile, Sun Pharma rose 4.41 percent intraday to Rs 449.
    SPARC announced a grant of exclusive licences to a subsidiary of CMS to develop and commercialise multiple products in Mainland China, Hong Kong, Macao, and Taiwan.
    The licensing deal with CMS will cover Xelpros, Elepsia, Taclantis, PDP-716 eye drops, and SDN-037 eye drops.
    As per the agreement, SPARC is eligible to receive an upfront payment, milestone payments, and royalty on net sales of the products in territories.
     
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