By Chris Wack

Rockwell Medical Inc. (RMTI) shares rose 23% to $2.85 after the company said it has entered into license and supply agreements with a wholly owned subsidiary of Sun Pharmaceutical Industries Ltd. (524715.BY) for the rights to commercialize Triferic ferric pyrophosphate citrate in India.

Rockwell Medical said Sun Pharma will be the exclusive development and commercialization partner for Triferic in India, and Rockwell Medical will supply the product to Sun Pharma.

In consideration for the license, Rockwell Medical said it will receive an upfront fee, and will be eligible for milestone payments and royalties on net sales.

Rockwell Medical said a joint alliance committee, comprised of members from Rockwell Medical and Sun Pharma, will guide the development and execution for Triferic in India. Sun Pharma will be responsible for all clinical, regulatory and commercialization activities.

Write to Chris Wack at chris.wack@wsj.com

(END) Dow Jones Newswires

January 15, 2020 12:56 ET (17:56 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.
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