Aurobindo Pharma gains 2% on subsidiary’s licence deal for leukemia drug

Eugia Pharma has signed a voluntary sub-licensing agreement with Medicines Patent Pool to make and sell Nilotinib capsules, originally developed by Novartis, for chronic myeloid leukemia in 44 low and middle-income countries

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Aurobindo Pharma share price rose 2.5 percent intraday on June 23 after one of its subsidiaries entered into a sub-licensing pact with medicines patent pool for Nilotinib Capsules.

Aurobindo Pharma said its wholly owned subsidiary, Eugia Pharma Specialities Limited (Eugia), entered into a voluntary sub-licensing agreement with Medicines Patent Pool (MPP), to develop and market Nilotinib capsules, originally developed by Novartis, for the treatment of chronic myeloid leukemia in 44 low and middle-income countries. These include the seven countries where patents on the drug are pending or in force.

The product will be produced at the Eugia Pharma’s unit Medchal in Telangana’s Malkajgiri district.

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“We are excited that Eugia has been granted the voluntary license from MPP to develop, manufacture & distribute generic Nilotinib Capsules in select markets. These are the first sublicence agreements that MPP has signed for a cancer treatment that will be made available in the LMIC, through this license,” vice chairman & managing director K Nithyananda Reddy said.

The product will be a good addition to Aurobindo’s oncology portfolio and will further strengthen its leadership in the generic oncology space.

“We are looking forward to start supplying the product at the earliest and to help reducing the risk chronic myeloid leukemia (CML) in certain patients,” he added.

At 12.06 pm, Aurobindo Pharma was quoting at Rs 687, up Rs 15.80, or 2.35 percent, on the BSE.

The share touched a 52-week high of Rs 692 on June 19, 2023 and a 52-week low of Rs 397.30 on February 3, 2023. It is trading 0.72 percent below its 52-week high and 72.92 percent above its 52-week low.