Sun Pharma shares rise over 3% with positive brokerage outlook following US biotech company acquisition. Sun Pharma shares were trading at Rs 1,655.95 apiece as of 1:30 pm, which is at a gain of 2.76 percent. ICICI Securities’ upgraded its rating on the stock to ‘Buy’ from ‘Hold’ This acquisition of the US-based early-stage oncology-focused biotech company, checkpoint Therapeutics is a move to further expand its specialty portfolio. The deal involves in an upfront cash payment of $4.1/share. This will total up to $355 million, and future milestones will further be valued at $0.7/ share. This transaction is expected to be completed by the second half of 2025. This acquisition expands SUNP’s onco-derma offerings and marks its entry into PD-L1 (Programmed Death Ligand-1) inhibitors. These inhibitors are effective against multiple cancers with fewer side effects. The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management.