Mumbai: Sun Pharma has entered into an exclusive licencing agreement with China Medical System Holdings (CMSH) to develop and commercialise seven generic products in Mainland China.
"This collaboration gives us entry into the Chinese generic pharmaceutical market. We see a lot of potential in China for both our generics and speciality portfolio," said Sun Pharma's Managing Director Dilip Shanghvi.
"With more than 65 per cent generics penetration, China represents a significant opportunity for generic pharmaceutical companies," he said. The collaboration with CMSH now covers eight generic products.
In June, Sun Pharma -- India's largest drug manufacturer -- had announced a collaboration with the Chinese firm on two speciality products (Tildrakizumab and Cyclosporine A 0.09 per cent eye drops) for Greater China market.
The total addressable market size for all these eight products is about one billion dollars (about Rs 7,100 crore) in Mainland China.
The initial term of the agreement will be 20 years from the first commercial sale of respective products in Mainland China and can be extended for additional three years according to mutual agreement of the two parties, the company said in a statement.