
Sun Pharma Finalizes $416M Deal for Checkpoint Therapeutics, Inc. (CKPT)

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Sun Pharmaceutical Industries Ltd. has completed its $416 million acquisition of Checkpoint Therapeutics, Inc. (NASDAQ:CKPT), enhancing its immuno-oncology portfolio. The deal includes purchasing shares at $4.10 each, with potential additional payments through contingent value rights. The acquisition is bolstered by Checkpoint's FDA-approved drug UNLOXCYT, aimed at treating advanced cutaneous squamous cell carcinoma. Sun Pharma's Chairman, Dilip Shanghvi, emphasized the strategic importance of this addition to their product lineup. The acquisition reflects confidence in Checkpoint's long-term assets, including UNLOXCYT and olafertinib.

