Nomura has maintained a ‘neutral’ rating on Sun Pharmaceutical Industries Ltd, setting a target price of ₹1,970 per share. The brokerage highlighted Sun Pharma’s announcement to acquire Checkpoint Therapeutics for an upfront payment of $355 million, strengthening its specialty business.
The acquisition bolsters Sun Pharma’s presence in the onco-dermatology (skin cancer) segment, where it already operates through Odomzo and Nidlegy. The move aligns with the company’s strategy to expand its specialty portfolio.
At the time of assessment, Sun Pharma’s share price was trading at ₹1,610.00.
Disclaimer: This article is for informational purposes only and should not be considered as investment advice. Please consult a financial expert before making any investment decisions.
