Pursuant to regulation 30 of the SEBI (Listing Obligation & Disclosure Requirements) Regulations, 2015, we inform that we have received a communication from Sun Pharma Global FZE (SPGFZE), a wholly owned subsidiary of Sun Pharmaceutical Industries Limited, informing us that SPGFZE is not planning to launch ElepsiaTM XR (Levetiracetam Extended-Release Tablets) as CNS is not its focussed therapeutic area in US market, and therefore SPGFZE has decided to return the product rights back to SPARC.<BR> SPARC had out-licensed ELEPSIATM XR to SPGFZE in July 2016; and was eligible for sales linked milestone and royalties upon commercialization of Elepsia TM XR.<BR> Consequently, SPARC would find another partner for commercialising the captioned product.
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