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Sun Pharma Advanced to Sell Rare Paediatric Disease Priority Review Voucher for $195 Million

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-- Sun Pharma Advanced Research Company (NSE:SPARC, BOM:532872) has agreed to sell its rare paediatric disease priority review voucher (PRV) granted by the U.S. Food and Drug Administration ( US FDA) for the approval of Sezaby for $195 million.

PRV was granted by the US FDA for the approval of Sezaby, used to treat neonatal seizures. It is a benzyl alcohol and propylene glycol-free formulation of phenobarbital sodium powder for injection, according to a Thursday filing to the Indian stock exchanges.

The sale of the PRV is expected to help the company develop its pipeline assets and strengthen its external innovation strategy.

The transaction is subject to customary closing conditions, including expiration of the applicable waiting period.

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