Sun Pharma to Acquire Checkpoint Therapeutics: Shares Rise 2%

Sun Pharmaceutical Industries shares rose over 2% after announcing its acquisition of US-based Checkpoint Therapeutics for up to $355 million. The transaction will allow Sun Pharma to expand into targeted oncology and immunotherapy treatments. It is expected to complete by the second quarter of 2025.

In a recent development, shares of Sun Pharmaceutical Industries climbed over 2% during morning trade, driven by the announcement of a significant acquisition.

The pharmaceutical giant revealed plans to acquire Checkpoint Therapeutics Inc., a U.S.-based firm specializing in targeted oncology and immunotherapy, for a considerable sum of $355 million.

This strategic move aims to boost Sun Pharma's foothold in developing novel treatments for solid tumor cancers, with the acquisition expected to finalize by the second quarter of 2025.

(With inputs from agencies.)