India’s Sun Pharma to buy Checkpoint Therapeutics for $355 mln

Investing.com

4 hours ago

Investing.com-- Sun Pharmaceutical (TADAWUL:2070) Industries Ltd. (NSE:SUN) said on Monday that it will buy Checkpoint Therapeutics Inc (NASDAQ:CKPT)- a Nasdaq-listed immunotherapy and oncology firm- for about $355 million.

Sun said it will offer $4.10 in cash for each share in Checkpoint, a nearly 66% premium to Checkpoint’s Friday close of $2.470. Checkpoint shareholders will also receive a commitment for an additional $0.70 per share if the company’s cosbelimab treatment is approved in Europe prior to certain deadlines.

Cosibelimab- which is Checkpoint’s FDA-approved treatment for certain variants of skin cancer- is the key motivator behind Sun’s bid, with the Indian pharmaceutical firm stating that the deal will introduce Checkpoint’s treatment across more countries.

The deal is expected to be completed in the second quarter of 2025.

Sun has also entered into a royalty agreement with Fortress Biotech Inc (NASDAQ:FBIO), Checkpoint’s controlling shareholder, under which the latter will receive payments based on future sales of cosibelimab.

Sun Pharma was founded in 1983 and is one of the world’s biggest manufacturers of generic pharmaceuticals, which are also a major export product for India. The company has diversified into a wide range of healthcare services in recent years, and offers services in over 100 countries.

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(NSE:SUN) said on Monday that it will buy Checkpoint <a href=\"https://laohu8.com/S/LENZ\">Therapeutics</a> Inc (NASDAQ:CKPT)- a Nasdaq-listed immunotherapy and oncology firm- for about $355 million. </p>\n<p dir=\"ltr\">Sun said it will offer $4.10 in cash for each share in Checkpoint, a nearly 66% premium to Checkpoint’s Friday close of $2.470. 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The company has diversified into a wide range of healthcare services in recent years, and offers services in over 100 countries. </p>\n<p>Related Articles</p>\n<p>India’s Sun Pharma to buy Checkpoint Therapeutics for $355 mln</p>\n<p>Trump says government shutdown is possible, but expects to avert it</p>\n<p>Seven & i in talks with Couche-Tard over store sales for merger deal</p>\n</body></html>","source":"yahoofinance","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta content=\"text/html; charset=utf-8\" http-equiv=\"Content-Type\"/>\n<meta content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\" name=\"viewport\"/>\n<meta content=\"telephone=no,email=no,address=no\" name=\"format-detection\"/>\n<title>India’s Sun Pharma to buy Checkpoint Therapeutics for $355 mln</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nIndia’s Sun Pharma to buy Checkpoint Therapeutics for $355 mln\n</h2>\n<h4 class=\"meta\">\n\n\n2025-03-10 11:13 GMT+8   <a href=\"https://finance.yahoo.com/news/india-sun-pharma-buy-checkpoint-031303490.html\"><strong>Investing.com</strong></a>\n</h4>\n</header>\n<article>\n<div>\n<p>Investing.com-- Sun Pharmaceutical (TADAWUL:2070) Industries Ltd. (NSE:SUN) said on Monday that it will buy Checkpoint Therapeutics Inc (NASDAQ:CKPT)- a Nasdaq-listed immunotherapy and oncology firm- ...</p>\n<a href=\"https://finance.yahoo.com/news/india-sun-pharma-buy-checkpoint-031303490.html\">Source Link</a>\n</div>\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"USJW.SI","symbol_name":"ALPHAB 3xLongSG261006","start_time":0,"source_url":"https://finance.yahoo.com/news/india-sun-pharma-buy-checkpoint-031303490.html","article_id":"2518250530","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2518250530","pubTimestamp":1741576383,"columns":[],"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"Investing.com--Sun Pharmaceutical  Industries Ltd.  said on Monday that it will buy Checkpoint Therapeutics Inc - a Nasdaq-listed immunotherapy and oncology firm- for about $355 million.Sun said it will offer $4.10 in cash for each share in Checkpoint, a nearly 66% premium to Checkpoint’s Friday close of $2.470. 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(NSE:SUN) said on Monday that it will buy Checkpoint Therapeutics Inc (NASDAQ:CKPT)- a Nasdaq-listed immunotherapy and oncology firm- for about $355 million. \nSun said it will offer $4.10 in cash for each share in Checkpoint, a nearly 66% premium to Checkpoint’s Friday close of $2.470. Checkpoint shareholders will also receive a commitment for an additional $0.70 per share if the company’s cosbelimab treatment is approved in Europe prior to certain deadlines. \nCosibelimab- which is Checkpoint’s FDA-approved treatment for certain variants of skin cancer- is the key motivator behind Sun’s bid, with the Indian pharmaceutical firm stating that the deal will introduce Checkpoint’s treatment across more countries. \nThe deal is expected to be completed in the second quarter of 2025. \nSun has also entered into a royalty agreement with Fortress Biotech Inc (NASDAQ:FBIO), Checkpoint’s controlling shareholder, under which the latter will receive payments based on future sales of cosibelimab. \nSun Pharma was founded in 1983 and is one of the world’s biggest manufacturers of generic pharmaceuticals, which are also a major export product for India. The company has diversified into a wide range of healthcare services in recent years, and offers services in over 100 countries. \nRelated Articles\nIndia’s Sun Pharma to buy Checkpoint Therapeutics for $355 mln\nTrump says government shutdown is possible, but expects to avert it\nSeven & i in talks with Couche-Tard over store sales for merger deal","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"corporation","news_rank":0,"symbols":[],"gpt_button":0}}}