Sun Pharma has a price target of ₹2206 (36% upside potential)
Sun Pharma has a price target of ₹2206 (36% upside potential)
Sun Pharmaceuticals Industries’ (SUNP IN) acquisition of Checkpoint Therapeutics (CKPT) would give SUNP access to a USFDA-approved novel drug asset, Cosibelimab (approved in December 2024), meant to treat locally advanced or metastatic cutaneous squamous cell carcinoma (laCSCC and mCSCC). Through this acquisition, SUNP intends to deepen its presence in the skin cancer segment; SUNP’s existing portfolio in this space includes Levulan and Odomzo, having filed Nidlegy for melanoma. The acquisition is valued at USD 355mn (USD 400mn including Contingent Value Right (CVR). We estimate peak sales opportunity of USD 250mnUSD 500mn for Cosibelimab. We retain our estimates on SUNP and retain BUY with a PT of Rs. 2,206 based on 35x FY27E EPS.