Sun Pharma Advanced Research Company (SPARC) has received a communication from Sun Pharma Global FZE (SPGFZE), a wholly owned subsidiary of Sun Pharmaceutical Industries that it has decided to return the product rights back to SPARC.
SPGFZE is not planning to launch Elepsia XR (Levetiracetam Extended Release Tablets) as CNS is not its focussed therapeutic area in US market.
Earlier, SPARC had out-licensed ELEPSIA XR to SPGFZE in July 2016; and was eligible for sales linked milestone and royalties upon commercialization of Elepsia TM XR. Consequently, SPARC would find another partner for commercialising the captioned product.
SPARC is an international pharmaceutical company engaged in research and development of drugs and delivery systems.
