Sun Pharma Advanced Research Company (SPARC) announced it entered into a definitive agreement to sell its Rare Paediatric Disease Priority Review Voucher (PRV) for US $195 million, marking a significant monetisation of a high-value regulatory asset.

The Mumbai-based company disclosed that the transaction involves selling its PRV under a definitive asset purchase agreement, with proceeds realised upon deal completion.

Priority Review Vouchers are granted by the U.S. Food and Drug Administration to incentivise the development of treatments for rare paediatric diseases, and can be used or sold to obtain expedited review timelines for other drug applications.

The transaction is expected to close subject to customary conditions, following which SPARC will receive the full consideration of US $195 million.

The sale reflects SPARC’s strategy to unlock value from its research-driven assets while continuing to focus on advancing its proprietary pipeline. By monetising the PRV, the company gains immediate capital that can be redeployed into ongoing R&D programmes and strategic initiatives.