Sun Pharmaceutical Industries Ltd. has announced the acquisition of Checkpoint Therapeutics, Inc., a Nasdaq-listed company specializing in immunotherapy and targeted oncology. This acquisition aims to strengthen Sun Pharma’s oncology portfolio and expand access to innovative treatments for cutaneous squamous cell carcinoma (cSCC).

Checkpoint has FDA approval for Unloxcyt (cosibelimab-ipdl), a novel anti-PD-L1 treatment for adults with metastatic or advanced cSCC who are not candidates for surgery or radiation. With Sun Pharma’s global presence, this treatment is expected to reach more patients worldwide.

The transaction includes an upfront cash payment of $4.10 per share and a potential additional $0.70 per share, contingent on regulatory approvals in the EU and key European markets. This represents a 66% premium over Checkpoint’s closing share price on March 7, 2025.

A special committee of Checkpoint’s board, supported by financial and legal advisors, unanimously approved the transaction, deeming it the best strategic option for maximizing value. The deal is expected to close in Q2 2025, pending regulatory and shareholder approvals.

Sun Pharma, a global leader in specialty generics, continues to expand its oncology and dermatology segments through this acquisition, reinforcing its commitment to innovative cancer treatments.