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Sun Pharma to buy US oncology firm for $355 million
Mint Mumbai
|March 11, 2025
Sun Pharmaceutical Industries Ltd has agreed to buy US-based immunotherapy and oncology firm Checkpoint Therapeutics Inc. for an upfront payment of $355 million, as India's largest drugmaker bolsters its specialty therapy portfolio.
Sun Pharma will buy the outstanding shares of Waltham, Massachusetts-based Checkpoint for $4.10 each upfront—about 66% above Checkpoint's Friday closing price, the Mumbai-based firm said in a filing on Monday. It will also exercise a non-transferable contingent value right of up to $0.70 per share in cash based on certain conditions, the filing added.
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