Sun Pharma, India’s largest drug maker in terms of revenue, will be acquiring Nasdaq-listed Checkpoint Therapeutics. The deal marks a major step by the Indian pharma company to ramp up the oncology portfolio into the high-margin specialty pharma market, especially in the United States. The upfront payment of $4.10 per share is a premium of around 66% to Checkpoint’s closing share price on March 7, 2025. The acquisition includes UNLOXCYT, an FDA-approved treatment for advanced skin cancer. Sun Pharma had acquired Concert Pharma Inc for $576 million in 2023 for Sun’s dermatology portfolio, and the latest acquisition aligns with the previous move. The transaction is subject to checkpoint’s shareholder and regulatory approvals and is expected to be completed in Q2CY25. The shares of Sun Pharma are flat compared to the last one year, and down 15% so far in 2025, and are valued at Rs 3.86 lakh crore.