Sun Pharma Acquires Checkpoint Therapeutics for $355 Million

Sun Pharmaceutical Industries has announced its acquisition of Checkpoint Therapeutics for $355 million, with an additional contingent value right that could raise the total transaction value to approximately $416 million. The deal, which is expected to close in the second quarter of 2025, includes Checkpoint's FDA-approved cancer immunotherapy Unloxcyt, a treatment for advanced cutaneous squamous cell carcinoma. This acquisition aligns with Sun Pharma's strategy to enhance its specialty business in dermatology and oncology. The purchase price represents a 66% premium over Checkpoint's recent stock price, although Checkpoint's shares have seen significant declines since a previous peak. Sun Pharma aims to leverage its global footprint to improve patient access to Unloxcyt, enhancing its oncology-dermatology portfolio. This move follows Sun Pharma's previous acquisition of Concert Pharmaceuticals, reinforcing its commitment to expanding its specialty drug offerings.