Sun Pharma permits licensing agreement to CMS

Sun Pharma Industries Ltd. has granted an exclusive license to a subsidiary of China Medical System Holdings Ltd. (CMS) to develop and commercialize seven generic products in Mainland China. The total addressable market size for all these eight products is about USD 1 billion in Mainland China. The initial term of the agreement shall be 20 years from the first commercial sale of the respective products in Mainland China and may be extended for additional 3 years as per mutual agreement of the two parties.