Sun Pharma Acquires Checkpoint Therapeutics for $355 Million, Adding FDA-Approved Skin Cancer Immunotherapy to Oncology Pipeline
Sun Pharma India purchased US oncology firm Checkpoint Therapeutics through a $355 million deal. The strategic acquisition expands Sun Pharma’s specialty business through its oncology division. Checkpoint Therapeutics operates on Nasdaq as a development company that produces unique cancer treatments for solid tumors, adding new therapies to Sun Pharma’s current offerings.
Focus on Advanced Skin Cancer Treatment
The main product of Checkpoint, called UNLOXCYT, is a vital element of this acquisition because it received FDA approval for treating advanced skin cancer. The therapeutic alliance UNLOXCYT represents an anti-PD-L1 antineoplastic product made specifically for treating cutaneous squamous cell carcinoma (CSCC) skin cancer. Through its acquisition, Sun Pharma has obtained UNLOXCYT skin cancer medication, which allows patients to battle advanced skin cancer using a new, appealing therapeutic solution. This acquisition allows both companies to unite their international markets, especially in European and U.S. territories, to obtain this valuable treatment.
Sun Pharma Managing Director Dilip Shanghvi declared that the Checkpoint Therapeutics acquisition brings the company more advanced skin cancer treatment possibilities for patient care. Through its international delivery platform, Sun Pharma enables secure treatment distribution to patients, which enhances their short and long-term medical results.
Transaction Details and Future Prospects
Both investor approval and regulatory clearance must be received for the transaction to be finalized before 2025 ends. Sun Pharma plans to own Checkpoint stock entirely after successfully acquiring the company. Checkpoint shareholders can receive $4.10 successfully as a cash portion during the final transaction phase. Sun Pharma has established a royalty agreement with Fortress Biotech, the major shareholder of Checkpoint, another company developing cosibelimab through its drug pipeline.
Financial Impact and Long-Term Benefits
The financial reports from Checkpoint nine months before September 2024 reflected revenues of $0.04 million and a total net loss of $27.3 million. Although Checkpoint reported inadequate revenue and substantial net loss statistics after nine months, the Sun Pharma acquisition established opportunities for oncology market expansion. Checkpoint’s portfolio of products includes UNLOXCYT, which enables Sun Pharma to develop its oncology pipeline further.
This acquisition enhances Sun Pharma’s ability to bring steep-edge cancer therapies while delivering continuous medical and financial advantages to patients and the company due to the increasing worldwide cancer treatment demand.
