Sun Pharmaceutical Industries Ltd. Buys US-Based Checkpoint for $355 Million
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. The acquisition is the firm’s second in less than three months, as it tries to rapidly diversify beyond generic drugs and build out a portfolio of novel therapies. This deal further underscores Sun Pharma's expansion into the lucrative US market for specialty medicines.
- This significant investment by Sun Pharma highlights the growing trend of Indian pharmaceutical companies venturing into the complex and profitable realm of specialty oncology, potentially challenging traditional players like Novartis and Pfizer in the US market.
- What implications will this acquisition have on global competition, particularly from EU-based companies like Bayer and Roche, in the emerging niche of immunotherapy treatments for skin cancers?