Mumbai, April 30, 2026: Sun Pharma Advanced Research Company Ltd. (SPARC) has announced the sale of its Rare Paediatric Disease Priority Review Voucher (PRV) for US$195 million under a definitive asset purchase agreement.
The PRV was awarded by the U.S. Food and Drug Administration following the approval of Sezaby, a treatment indicated for neonatal seizures.
The company stated that the transaction remains subject to customary closing conditions, including the expiry of the applicable waiting period under the Hart-Scott Rodino (HSR) Antitrust Improvements Act in the United States.
Commenting on the transaction, Anil Raghavan, Chief Executive Officer of SPARC, said the monetisation of the PRV would support the company’s research and innovation plans.
“The sale of the PRV will enable us to accelerate the development of our pipeline assets and strengthen our external innovation strategy, which has already delivered multiple additions to our portfolio,” Raghavan said.
Sezaby is a benzyl alcohol and propylene glycol-free formulation of phenobarbital sodium powder for injection. The drug received approval from the FDA for the treatment of neonatal seizures.