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Systematix Research Report
On January, 19, 2023, Sun Pharmaceutical Industries Ltd. announced its plans to acquire Concert Pharma, a late-stage clinical biopharmaceutical company.
Sun Pharma gets access to key pipeline molecule, deuruxolitinib (JAK inhibitor), which has shown best in class efficacy for the treatment of Alopecia Areata. The drug has been granted breakthrough designation by the U.S. Food and Drug Administration which raises odds of regulatory approval and commercial success.
We expect the drug to be commercially launched in early CY-2024 and generate peak sales of $250 to $500 million. The drug would compete with Eli Lilly's Olumiant (launched) and Pfizer Ltd.'s ritecitinib (filed).
Cross trial comparison suggests that efficacy data of Concert Pharma's drug, deuruxolitinib, is superior. Sun Pharma will pay an upfront cash payment of $8 per share of common stock amounting to $576 million and will be liable to pay contingent value right for up to $3.50 per share of common stock on achievement of certain time based net sales milestones.
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