pharmaphorum March 10, 2025
Sun Pharma has agreed a takeover deal with US biotech Checkpoint Therapeutics, which recently claimed FDA approval for its first drug but is also running low on cash.
The Indian pharma group – which sells generics, biosimilars as well as branded medicines around the world – is making an upfront payment of $4.10 per share in Massachusetts-based Checkpoint, a two-thirds premium on its closing share price on the Nasdaq on Friday, which values the company at around $355 million.
Sun Pharma has made its play just three months after Checkpoint won FDA approval for PD-L1 inhibitor Unloxcyt (cosibelimab) for the treatment of adults with metastatic cutaneous squamous cell carcinoma (cSCC) or locally advanced cSCC who are not candidates for curative...
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