Latest news with #Checkpoint
New Indian Express
2 days ago
- Business
- New Indian Express
Sun Pharma's Checkpoint buy: Why it's a strategic fit in the new SPIL focus
CHENNAI: India's largest drug maker, Sun Pharmaceutical Industries, has completed its acquisition of US-based Checkpoint Therapeutics for approximately $355 million. This strategic move significantly strengthens Sun Pharma's oncology and dermatology portfolio, aligning with its focus on high-value specialty therapies. Despite the long-term strategic value, the market reaction on Friday surprised many, as Sun Pharma's share price fell by 1.46% at the close of the week's trading. This dip may have been driven by immediate concerns, including regulatory issues at a key manufacturing facility and the company's cautious financial guidance. Investors are closely monitoring developments—particularly the US FDA's observations regarding Sun Pharma's Dahej facility. The company's financial performance in the coming quarters will also be under scrutiny as stakeholders assess the potential impact on its stock trajectory. Strategic Rationale and Synergies of the Checkpoint Deal Drug industry analysts believe the Checkpoint acquisition is a major strategic gain for Sun Pharma, which has historically grown through carefully chosen, high-potential acquisitions. According to analysts at HDFC Securities, the deal aligns with Sun Pharma's capital allocation strategy to strengthen its specialty business. Checkpoint's Unloxcyt—a novel skin cancer drug—will serve as a complementary addition to its oncology portfolio. In the post-Q4 earnings call, Chairman and Managing Director Dilip Shanghvi reiterated the company's commitment to expanding its specialty business. Sun Pharma's specialty and innovative therapeutics division currently focuses on dermatology, ophthalmology, and oncology. Unloxcyt will complement existing products such as Odomzo (sonidegib) and Yonsa (abiraterone acetate)—both approved in the US—Nidlegy (awaiting approval in the EU), and the recently acquired Fibromun (in Phase III trials). Other specialty molecules in development, including Ilumya (for psoriatic arthritis), GL0034 (obesity), MM-II (osteoarthritis), SCD-044 (atopic dermatitis/psoriasis), and Fibromun (for soft tissue sarcoma/glioblastoma), offer long-term growth potential. According to analysts, the Checkpoint acquisition is strategically significant for four key reasons:
Yahoo
3 days ago
- Business
- Yahoo
Fortress Biotech Announces Closing of Sale of Subsidiary Checkpoint Therapeutics
Fortress will receive ~$28 million shortly after closing and is eligible for an additional contingent value right (CVR) of up to $4.8 million, plus a 2.5% royalty on future net sales of UNLOXCYT™ (cosibelimab-ipdl) MIAMI, May 30, 2025 (GLOBE NEWSWIRE) -- Fortress Biotech, Inc. (Nasdaq: FBIO) ('Fortress'), an innovative biopharmaceutical company focused on acquiring and advancing assets to enhance long-term value for shareholders through product revenue, equity holdings and dividend and royalty revenue, today announced that its subsidiary, Checkpoint Therapeutics, Inc. ('Checkpoint'), has been acquired by Sun Pharmaceutical Industries Limited (together with its subsidiaries and/or associated companies, 'Sun Pharma'). The transaction closed on May 30, 2025, following the approval by requisite majorities of holders of Checkpoint's shares at a special meeting of Checkpoint's stockholders on May 28, 2025. 'We are thrilled that our Fortress-founded subsidiary, Checkpoint, closed an exciting deal with Sun Pharma that expedites patient access to FDA approved UNLOXCYT™ (cosibelimab-ipdl) through their established global commercial organization. This transaction is also another successful milestone for Fortress, as we will receive approximately $28 million shortly after closing and are eligible for a 2.5% royalty on net sales of UNLOXCYT, and up to an additional $4.8 million if the contingent value right (CVR) is achieved. This transaction demonstrates how we continue to strengthen our balance sheet through opportunistic transactions that generate shareholder value. We aim to acquire and advance assets to their full potential, and our business model is fundamentally designed to generate long-term cash flow through product revenue, equity holdings and dividend and royalty revenue," said Lindsay A. Rosenwald, M.D., Fortress' Chairman, President and Chief Executive Officer. 'We look forward to our next exciting milestone at one of our other majority-owned subsidiaries, Cyprium Therapeutics, which is the September 30, 2025 Prescription Drug User Fee Act ('PDUFA') goal date for CUTX-101. If CUTX-101 is approved by the FDA, Cyprium may be eligible to receive a Priority Review Voucher. We are also focused on evaluating business development opportunities and the advancement of our robust pipeline of compelling product candidates at Fortress along with our partner companies and subsidiaries.' In March 2025, Fortress' subsidiary Checkpoint entered into an agreement to be acquired by Sun Pharma. Upon completion of the transaction, Sun Pharma acquired all outstanding shares of Checkpoint for $4.10 per share in cash and a non-transferable CVR entitling the stockholder to receive up to an additional $0.70 in cash if cosibelimab is approved prior to certain deadlines in the European Union pursuant to the centralized approval procedure or in Germany, France, Italy, Spain or the United Kingdom, subject to the terms and conditions in the CVR agreement. In December 2024, Checkpoint received FDA approval for UNLOXCYT which is the first and only FDA-approved programmed death ligand-1 ('PD-L1') blocking antibody for advanced cutaneous squamous cell carcinoma. About Fortress Biotech Fortress Biotech, Inc. ('Fortress') is an innovative biopharmaceutical company focused on acquiring and advancing assets to enhance long-term value for shareholders through product revenue, equity holdings and dividend and royalty revenue. The company has eight marketed prescription pharmaceutical products and multiple programs in development at Fortress, at its majority-owned and majority-controlled partners and subsidiaries and at partners and subsidiaries it founded and in which it holds significant minority ownership positions. Fortress' portfolio is being commercialized and developed for various therapeutic areas including oncology, dermatology, and rare diseases. Fortress' model is focused on leveraging its significant biopharmaceutical industry expertise and network to further expand and advance the company's portfolio of product opportunities. Fortress has established partnerships with some of the world's leading academic research institutions and biopharmaceutical companies to maximize each opportunity to its full potential, including AstraZeneca, City of Hope, Fred Hutchinson Cancer Center, Nationwide Children's Hospital and Sentynl. For more information, visit Forward-Looking StatementsStatements in this press release that are not descriptions of historical facts are 'forward-looking statements' within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, as amended. The words 'anticipates,' 'believes,' 'can,' 'continue,' 'could,' 'estimates,' 'expects,' 'intends,' 'may,' 'might,' 'plans,' 'potential,' 'predicts,' 'should,' or 'will' or the negative of these terms or other comparable terminology are generally intended to identify forward-looking statements. These forward-looking statements are based on management's current expectations and are subject to risks and uncertainties that could negatively affect our business, operating results, financial condition and stock price. Factors that could cause actual results to differ materially from those currently anticipated include risks relating to: our growth strategy, financing and strategic agreements and relationships; our need for substantial additional funds and uncertainties relating to financings; our ability to realize any royalty or other milestone-based payments in the time frame expected, or at all; our ability to identify, acquire, close and integrate product candidates successfully and on a timely basis; our ability to attract, integrate and retain key personnel; the early stage of products under development; the results of research and development activities; uncertainties relating to preclinical and clinical testing; our ability to obtain regulatory approval for products under development; our ability to successfully commercialize products for which we receive regulatory approval or receive royalties or other distributions from third parties; our ability to secure and maintain third-party manufacturing, marketing and distribution of our and our partner companies' products and product candidates; government regulation; patent and intellectual property matters; competition; as well as other risks described in our SEC filings. We expressly disclaim any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in our expectations or any changes in events, conditions or circumstances on which any such statement is based, except as may be required by law, and we claim the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. The information contained herein is intended to be reviewed in its totality, and any stipulations, conditions or provisos that apply to a given piece of information in one part of this press release should be read as applying mutatis mutandis to every other instance of such information appearing herein. Company Contact:Jaclyn JaffeFortress Biotech, Inc.(781) 652-4500ir@ Media Relations Contact:Tony Plohoros6 Degrees(908) 591-2839tplohoros@ in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Otago Daily Times
5 days ago
- Sport
- Otago Daily Times
Warriors distance themselves from 'run it straight'
Robbie Tuluatua competes against Tonga Siaila Liuaki during the RUNIT Championship League in Auckland on May 19. The rugby league community is ensuring they distance themselves from the controversial new collision trend known as 'run it straight.' Calls are growing louder to ban the game in the wake of a teenager's death in Palmerston North. Ryan Satterthwaite, 19, died after suffering a catastrophic head injury while playing a version of the game. Though several copycat leagues have appeared, the pre-eminent and most popular is the RunIt Championship League. Current Warriors halfback Chanel Harris-Tavita has appeared in promotions for RunIt, advertised as a 'special guest' for the first night of trials in Auckland. When RNZ contacted the club for comment, a spokesman insisted the Warriors had nothing to do with the organisation. Coach Andrew Webster said he is not across the new collision craze. "I'm not a social media man, so I don't know too much about it." Asked whether it could affect perceptions of the NRL, Webster said he didn't want to make an uneducated statement. "I honestly don't know enough about it, any contact sport should be done in a safe environment, but I'm focused on our game." Former Warrior and current club mentor Manu Vatuvei spoke at the second night of trials. "I know a lot of people hate it, and a lot of people love it. I'm one of those people who love it," he said at the time. Other notable athletes to have previously endorsed RunIt include current UFC light heavyweights Carlos Ulberg and Navajo Stirling. Saveatama Eroni Clarke. Photo: supplied 'Too much risk involved' - Former All Black Former All Black Saveatama Eroni Clarke, the Pasifika engagement manager for NZ Rugby told RNZ's Checkpoint programme today that Satterthwaite's death was a tragedy. Regulations that focus on health and safety need to be put in place, he said. His message to young people is: "Don't do it, there's too much risk involved, we've seen now the extreme of it and the high risk that it brings - head trauma and other things that it brings as well." "I think about my own children and I think about Caleb and I'm thinking about his brothers and I'm thinking well certainly if there is a contact sport that I want them to play it's rugby." Young people who want to play a contact sport should join rugby, where there is good coaching and safety is in mind, he said. His message to high profile players is: "We can't be seen to support something like this."
RNZ News
7 days ago
- Business
- RNZ News
Police shoplifting changes: 'We have to prioritise and that's a challenge'
Police will no longer be investigating allegations of shoplifting below $500, petrol drive-offs below $150, and online frauds below $1000. Photo: RNZ / Richard Tindiller Police have confirmed that staff have been directed not to investigate shoplifting of goods worth less than $500, saying they have to prioritise with the resources they have. As reported by RNZ last week the police directive to staff says they will no longer be investigating allegations of shoplifting below $500, petrol drive-offs below $150, and online frauds below $1000 regardless of lines of inquiry as part of a new nation-wide directive. Speaking to Checkpoint this evening, director of service Superintendent Blair MacDonald admitted the directive was valid. "We only have so much resource, so we have to prioritise the work that comes in through the door and that's a challenge. Each district has to make a choice." MacDonald said while police might not be able to attend incidents in person, reports of crimes - including car registrations, photos and CCTV footage - may help to solve bigger crimes down the track, and all reports would be 'filed' or 'parked' for the future. "We continue to encourage everyone to report offending to us, because even if we can't get to it today, you just don't know how important that might be further on down the track." He said the financial thresholds helped staff "triage" crime and police resources. "We'd love to be able to get to everything, but unfortunately that's just not the world we all live in." MacDonald said it was mainly business as usual for police. "We've tweaked the thresholds to make my staff slightly more efficient as they're assigning cases coming through." Police have conceded the wording of the directive "could have been clearer". The directive said "nationally standardised value thresholds" would be used when assessing theft and fraud files from 26 March. Retail crime group chair Sunny Kaushal told RNZ earlier today that retailers would be "deeply concerned" by the directive . He said similar approaches had "disastrous consequences" overseas, including in the US and UK. Sign up for Ngā Pitopito Kōrero, a daily newsletter curated by our editors and delivered straight to your inbox every weekday.
Scoop
24-05-2025
- Politics
- Scoop
Budget 2025: The Teenagers Feeling Ignored By Government's Decisions
Article – RNZ A group of youths grappling with some of the decisions made by the government expressed their concerns at a post-Budget chat hosted by the Child Poverty Action Group. Checkpoint Louise Ternouth , Checkpoint reporter 'Do not just invest in stats and numbers, invest in us.' That is the message from a group of teenagers grappling with some of the decisions made by the government in this year's Budget. They came together along with child advocates, researchers and rangatahi to unpack the budget. with KiwiSaver, pay equity, employment and climate change all top of the discussion. Save the Children Generation Hope Youth ambassadors opened the post-Budget chat hosted by the Child Poverty Action Group in Tāmaki Makaurau with these words. 'A budget is numbers, but numbers don't heal people, a budget is a promise but promises break without action, a budget is pointless without a plan. 'We've heard the speeches we've seen the headlines roll in; the words roll in like tides the tides that never quite reach the shore.' One of the youth ambassadors is 17-year-old Sonya. She was concerned about what she feels are important parts of daily life that were missing from the budget. 'There was a lot about infrastructure and funding for big things, but not really the things that matter or the things that impact people on their daily lives. 'Kids that go to school, what are we going to do about buses? What are we going to do about traffic? What are we going to do about families and school lunches?' One of the big changes affecting rangatahi is the tightening of the job seeker and emergency benefits. 18 and 19-year-olds on those will now have them means tested against their parents' incomes. Year 12 students at Kelston Boys' High School Uelese and Nikolao are concerned about this. 'Do they know, especially in Polynesian households like our parents, have their own struggles, relying on them for the funding will put more stress and you know, more troubles on our parents,' said Uelese. 'Yeah, I think it all goes back to the purpose of the government itself to provide positive outcomes for the general public, whether or not you have stable parents, I feel like everybody deserves what they're promised,' Nikolao said. The issue was of particular relevance for Uelese – whose mother has been impacted by the pay equity reform. While its overhaul will save the government $2.7 billion a year. The changes mean workers now face a higher threshold to prove they are underpaid due to sex discrimination. Uelese is worried about how it will affect his mum and dedicated his opening speech to her. 'If my mom can't get ahead, how am I supposed to? 'This year's budget was meant to be about growth, but for so many families, especially those led by women, it feels more like being told to grow something from dry soil. 'You can't cut down the people who carry the load and expect the next generation to rise. 'This budget forgets the people who hold our communities and our children together, women, especially mothers.' Then there is KiwiSaver. From July, 16 and 17-year-olds are eligible to get the government contribution and requirements for employers to match their deposits will kick in next year. But the minimum contribution will go up from three percent of wages to four percent over the next three years. The amount the government is contributing is being halved to a maximum of $261 a year. The government said the increase in the default amount could leave KiwiSaver members with more than $100,000 in retirement. But the Labour Party claims not everybody will benefit, especially younger people. It claims the changes could mean an 18-year-old ends up with $66,000 less for their retirement. Uelese and Nikolao are disappointed with the change. 'You know, finance is everything it would be good to, like, have that support that they've sort of halved. 'I mean, it's still there, but is half really enough to start something in, in this ever growing society,' said Uelese. The students also said there is one big thing missing in the budget, addressing climate change. Instead, the government has set aside $200 million to invest in fossil fuel development at gas fields, reduce climate finance to the pacific and clawed back funds for government agencies working on ways to save energy. Uelese said it was worrying. 'We're really educated on climate change and we know that it's like one of the biggest issues, if not the biggest issue that we're facing right now. 'We actually need to get our butts up and start moving.'
