Sun Pharmaceutical Industries has signed an exclusive licensing agreement with LIB Therapeutics Inc. to commercialize and manufacture the cholesterol-lowering drug lerodalcibep worldwide, excluding the United States and China. The drug recently received approval in the European Union.
The PCSK9 inhibitor market outside the United States and China is valued at $3.7 billion. The segment is growing rapidly.
Separately, the US government has exempted India from 100% tariffs on certain specialty pharmaceuticals, a move expected to benefit Indian drugmakers, including Sun Pharma.
Analysts responded positively to the licensing news. Macquarie maintained its Outperform rating and a target price of Rs 2,150, citing potential cross-selling opportunities. 360 One Capital reiterated its Buy rating, saying the deal strengthens Sun Pharma’s innovative medicines portfolio.