Street View -India's Sun Pharma buying Checkpoint boosts its specialty portfolio, analysts say
Shares of India's Sun Pharma SUN.NS climb 3% to 1,656.25 rupees
SUN top pct gainer on pharma index .NIPHARM and second-biggest gainer on Nifty 50 .NSEI
India's top drugmaker by revenue to acquire U.S.-based Checkpoint Therapeutics CKPT.O for $355 million
$1 BILLION OPPORTUNITY
JP Morgan ("overweight", PT: 2,210 rupees) says Checkpoint acquisition "checks the boxes" as it gives SUN access to a US FDA approved skin cancer drug Unloxcyt, which has potential to become a $1 billion opportunity in US
Adds, acquisition will bolster SUN's specialty offerings in skin cancer space, which has been one of its key focus areas
BofA Securities ("neutral", PT: 1,940 rupees) says Unloxcyt has an advantage over rivals' drugs due to lower price, but says it awaits clarity on SUN's commercial strategy
Motilal Oswal ("buy", PT: 1,895 rupees) says SUN is "on a spree to expand specialty portfolio" and Checkpoint's five cancer treatment assets to complement SUN's existing portfolio
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