Sun Pharma Shares Rise on Checkpoint Therapeutics Acquisition
Sun Pharma shares climbed over 2% after announcing the acquisition of US-based Checkpoint Therapeutics for up to USD 355 million. The deal is expected to close in the second quarter of 2025.
Photograph: Francis Mascarenhas/Reuters
New Delhi, Mar 10 (PTI) Shares of Sun Pharmaceutical Industries rose a little over 2 per cent in the morning trade on Monday after the company announced that it will acquire US-based Checkpoint Therapeutics Inc for up to USD 355 million.
The scrip of Sun Pharmaceutical Industries went up 2.06 per cent to Rs 1,643.20 apiece on the BSE.
On the National Stock Exchange (NSE), it advanced 1.99 per cent to Rs 1,641.45 apiece.
The 30-share BSE Sensex jumped 294.06 points or 0.40 per cent to 74,626.64 in the morning trade. The Nifty of NSE rose 82.85 points or 0.37 per cent to 22,635.35.
In a regulatory filing on Monday, Sun Pharmaceutical Industries said it will acquire immunotherapy and targeted oncology firm Checkpoint Therapeutics, Inc for up to USD 355 million.
Checkpoint is a Nasdaq-listed commercial-stage company focused on developing novel treatments for patients with solid tumor cancers.
The transaction is expected to be completed in the second calendar quarter of 2025.
The scrip of Sun Pharmaceutical Industries went up 2.06 per cent to Rs 1,643.20 apiece on the BSE.
On the National Stock Exchange (NSE), it advanced 1.99 per cent to Rs 1,641.45 apiece.
The 30-share BSE Sensex jumped 294.06 points or 0.40 per cent to 74,626.64 in the morning trade. The Nifty of NSE rose 82.85 points or 0.37 per cent to 22,635.35.
In a regulatory filing on Monday, Sun Pharmaceutical Industries said it will acquire immunotherapy and targeted oncology firm Checkpoint Therapeutics, Inc for up to USD 355 million.
Checkpoint is a Nasdaq-listed commercial-stage company focused on developing novel treatments for patients with solid tumor cancers.
The transaction is expected to be completed in the second calendar quarter of 2025.
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