INDIA – Sun Pharma has wrapped up the acquisition of Concert Pharmaceuticals Inc. (Concert) with the desire to accelerate the market entry of deuruxolitinib, a potential best-in-class treatment for alopecia areata.
According to the deal, the acquisition value comprises US$8.00 per share of common stock in cash and a non-tradeable contingent value right (CVR) to Concert shareholders.
Concert has an extensive patent portfolio, including its lead product candidate deuruxolitinib – an oral inhibitor of Janus kinases (JAK1 and JAK2) for the treatment of alopecia areata, an autoimmune dermatological disease – which is in late-stage development.
In an official statement, India’s top pharmaceutical company said: “Sun Pharma’s immediate focus would be to follow Concert’s plan to submit a New Drug Application (NDA) to the U.S. Food and Drug Administration (FDA) in the first half of 2023.”
The acquisition of Concert is expected to establish Sun Pharma as a preferred development and commercial partner in Dermatology and Ophthalmology therapies worldwide.
Following the acceptance of the tendered shares, Concert becomes a wholly owned subsidiary of Sun Pharma, the world’s fourth largest specialty generic pharmaceutical company.
Concert’s talented team responsible for developing its late-stage, potential best-in-class treatment for alopecia areata will harness Sun Pharma’s global reach and commercial capabilities to bring deuruxolitinib to market globally.
“We are excited to add deuruxolitinib to our growing global dermatology portfolio and expand our presence in the Boston biotech hub,” said Abhay Gandhi, Abhay Gandhi, Chief Executive Officer (CEO) of Sun Pharma’s North America business.
He underscored that the buyout deal is a unique opportunity for the pharmaceutical company to make a meaningful difference, noting that it will enhance access to deuruxolitinib for patients with alopecia areata around the world.
The acquisition aligns with Concert’s mission to translate innovative science into clinical solutions in order to meaningfully improve patients’ lives.
Concert has completed the evaluation of the efficacy and safety of deuruxolitinib in adult patients with moderate to severe alopecia areata in its THRIVE-AA Phase 3 clinical program.
Moreover, deuruxolitinib has two open-label, long-term extension studies ongoing in North America and Europe in joint efforts to bring the potential treatment of the autoimmune dermatological disease to market.
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