India's Sun Pharmaceutical Industries said on Monday it will acquire US-based immunotherapy and targeted oncology company, Checkpoint Therapeutics, for $355 million, accoding to a Reuters report.
Sun Pharma's active push in recent years to expand its oncology and immunotherapy portfolio through several acquisitions and collaborations complements the deal. Last year, the company signed a licensing agreement with Philogen, an Italian-Swiss firm for its anti-cancer drug Fibromun.
Monday's transaction, which is expected to be completed in the second quarter of 2025, will add US FDA-approved treatment for advanced skin cancer 'UNLOXCYT' to Sun Pharma's global franchise.
Sun Pharma will finalise the deal through an upfront cash payment of $4.10 per common share, a premium of about 66 per cent to Checkpoint's last close on Friday, as shared by the Indian pharma company in an exchange filing.
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