FILE PHOTO: A sign is seen at an AstraZeneca site in Macclesfield, central England May 19, 2014. REUTERS/Phil Noble
BENGALURU (Reuters) – Indian drugmaker Sun Pharmaceutical Industries Ltd said on Wednesday it would introduce some of its cancer treatment drugs in China through Britain’s AstraZeneca.
This comes after AstraZeneca said it was launching a new fund with China International Capital Corp to invest $1 billion in China’s healthcare sector, as it expands its research work in the country.
Sun Pharma will be responsible for development, regulatory filings and manufacturing of the drugs covered in the deal, while AstraZeneca will exclusively promote and distribute the products in China, according to a filing here to Indian stock exchanges.
The financial terms of the agreement, which has an initial tenure of 10 years, were not disclosed.
Reporting by Chris Thomas in Bengaluru; Editing by Subhranshu Sahu