Indian drug firm Sun Pharma will acquire branded oncology drug Odomzo from Novartis in a $175-million (approximately Rs 1,188 crore) deal, reported The Times of India. The companies have signed the agreement, though it will be brought into effect after requisite approvals from the authorities concerned, including an anti-trust clearance.

After the acquisition, Sun Pharma will have its first branded oncology product. Odomzo has approval to be sold in 30 countries, including the United States and Australia. It can also be sold in Europe. The drug received approval from the Food and Drug Administration of the United States in July 2015.

Odomzo is a hedgehog pathway inhibitor used to treat adult patients suffering from locally advanced basal cell carcinoma that may recur after surgery or radiation therapy. The drug is mainly prescribed by dermatologists, and sometimes by oncologists as well.

Kirti Ganorkar, global head (business development) of Sun Pharma, said Odomzo would help the company expand its branded dermatology business and support its expansion into branded oncology with a launched brand. “We look forward to collaborating with the medical community to bring this novel therapy to the market to patients suffering from locally advanced basal cell carcinoma,” said Jesper Jensen, head (biologics and dermatology), Sun Pharma.