Sun Pharma Strengthens Its Specialty Portfolio

India's leading pharmaceutical giant, Sun Pharma, has announced a significant move to enhance its global oncology offerings by acquiring Checkpoint Therapeutics, a Nasdaq-listed company specializing in immunotherapy and targeted oncology treatments, for a whopping $355 million (over Rs 3,000 crore).

This strategic acquisition includes UNLOXCYT, an FDA-approved treatment for advanced skin cancer, marking a pivotal expansion in Sun Pharma's innovative onco-derm therapy portfolio. Dilip Shanghvi, CMD of Sun Pharma, emphasized the potential of combining UNLOXCYT with Sun Pharma's global reach to offer patients new, effective treatment options.

Maximizing Value and Accelerating Access

James Oliviero, president and CEO of Checkpoint, highlighted the transaction's benefits, stating it would maximize value for stockholders and expedite UNLOXCYT's availability in the U.S., Europe, and other global markets. The deal, pending shareholder and regulatory approvals, is expected to close in the second quarter of 2025.

Royalty Agreement with Fortress Biotech

In a related development, Checkpoint, Sun Pharma, and Fortress Biotech have entered into a royalty agreement. Post-transaction, Fortress will receive royalty payments based on future sales of cosibelimab, replacing previous royalty rights granted to Fortress.