Sun Pharma Advanced Research Company Ltd (SPARC) has announced that it has entered into a definitive agreement to sell its Rare Paediatric Disease Priority Review Voucher for a consideration of US $195 million, subject to the completion of customary closing conditions. The voucher was awarded by the US Food and Drug Administration following the approval of Sezaby®, a treatment indicated for neonatal seizures. Priority Review Vouchers are granted to encourage the development of therapies for rare paediatric conditions and can be used to expedite regulatory review timelines for other drug applications or transferred to third parties.
The proposed transaction is expected to provide SPARC with additional financial flexibility to advance its research and development initiatives. The proceeds will be directed towards strengthening the company’s pipeline and supporting ongoing innovation efforts across its therapeutic portfolio.
Commenting on the development, Anil Raghavan, Chief Executive Officer of SPARC, stated that the monetisation of the voucher will help accelerate the company’s development programmes and reinforce its approach to external innovation. He added that the company has been actively building its portfolio through a combination of internal research and strategic collaborations.
The completion of the transaction is subject to standard regulatory and procedural requirements, including the expiration of the applicable waiting period under the Hart-Scott Rodino Antitrust Improvements Act in the United States. Upon fulfilment of these conditions, the transaction is expected to be finalised in line with agreed timelines. Stifel acted as the exclusive financial advisor to SPARC for this transaction, providing strategic and financial guidance throughout the process.
Sezaby®, the product linked to the voucher, is a formulation of phenobarbital sodium designed for injection and developed without the use of benzyl alcohol and propylene glycol. It is intended for the treatment of neonatal seizures, addressing a critical need in paediatric care.
SPARC focuses on advancing therapeutic solutions and drug delivery systems aimed at improving patient outcomes globally. The company’s approach combines scientific innovation with efforts to enhance access and affordability of treatments.
The sale of the Priority Review Voucher represents a strategic step in unlocking value from regulatory assets while enabling reinvestment into future growth areas. It also reflects the company’s continued emphasis on strengthening its research capabilities and expanding its development pipeline.
