Sun Pharmaceutical Industries Ltd., India, has announced the acquisition of Nasdaq-listed Checkpoint Therapeutics, a U.S.-based immunotherapy and targeted oncology company, in a $355 million cash deal. This acquisition will expand Sun Pharma’s oncology portfolio by adding UNLOXCYT, an FDA-approved cancer drug. The deal is expected to close in the second quarter of 2025.
Sun Pharmaceutical Industries Ltd., one of India’s largest pharmaceutical companies, has announced its acquisition of Nasdaq-listed Checkpoint Therapeutics, Inc., a U.S.-based immunotherapy and targeted oncology company, in a $355 million cash deal. This move is set to enhance Sun Pharma’s presence in the oncology segment by adding UNLOXCYT (cosibelimab-ipdl), an FDA-approved cancer drug, to its product portfolio.
Strategic Expansion in Oncology
Sun Pharma, headquartered in Mumbai, Maharashtra, is known for its wide-ranging pharmaceutical products, including specialty and generic medicines. This acquisition aligns with the company’s long-term strategy to expand its oncology treatment offerings and strengthen its global reach.
The deal, expected to close in the second quarter of 2025, will see Sun Pharma acquiring Checkpoint Therapeutics at an upfront price of $4.1 per share, representing a 66% premium to Checkpoint’s last closing price. Additionally, Checkpoint shareholders will receive a contingent value right of up to $0.7 per share, depending on the European regulatory approval of cosibelimab within specified deadlines.
Leadership Insights
Dilip Shanghvi, Chairman and Managing Director of Sun Pharma, emphasized the importance of the deal, stating:
The acquisition of UNLOXCYT, an FDA-approved anti-PD-L1 treatment for advanced cutaneous squamous cell carcinoma (cSCC), strengthens our oncology and dermatology segment. With Sun Pharma’s global reach, we aim to improve patient access to this important treatment.”
Similarly, James Oliviero, President and CEO of Checkpoint Therapeutics, expressed confidence in the acquisition, saying:
Sun Pharma’s strong presence in global markets will help in the wider availability of UNLOXCYT. This deal ensures that patients across the U.S., Europe, and other regions have better access to innovative cancer treatments.”
Stock Market Reaction
Following the acquisition announcement, Checkpoint Therapeutics’ shares rose 3.78% to close at $2.47 on the Nasdaq. Meanwhile, Sun Pharma’s stock gained 2%, reaching a high of ₹1,643.20 on the Bombay Stock Exchange (BSE) on March 10.
With this acquisition, Sun Pharma continues to solidify its position in the global oncology market, demonstrating its commitment to innovation and patient care.
