Global pharma giant Sun Pharmaceutical Industries Limited announced on Thursday that it had entered into a licence agreement with American biopharmaceutical company Pharmazz Inc to commercialise an innovative drug, Tyvalzi (Sovateltide) in India.

Sovateltide, developed by Pharmazz for potential global use, is intended for treating cerebral ischemic stroke. Under the agreement, Sun Pharma obtained the rights to market Sovateltide in India under the brand name Tyvalzi (Sovateltide). Pharmazz will receive upfront and milestone payments, including royalties, as part of this collaboration, Sun Pharma said in a statement.