Sun Pharmaceutical Industries Ltd announced on Wednesday (October 7) that its board will meet on Monday, October 12, to consider and approve the issuance of listed, rated, unsecured and redeemable non-convertible debentures (NCDs) worth up to ₹15,000 crore. According to reports from CNBC TV18, the NCDs are proposed to be issued in one or more tranches through private placement. The latest announcement comes after media reports suggesting the company is planning a rupee-denominated debt sale to partly fund a bridge loan it took to finance the acquisition of US healthcare company Organon & Co. As per Reuters, Sun Pharma had closed a syndication of a nearly $12 billion, 18-month bridge loan earlier this year to finance the Organon acquisition, with the syndication including State Bank of India, the country's largest lender by assets.
Last month, Sun Pharmaceutical Industries Ltd announced a licensing, commercialisation and manufacturing agreement with LIB Therapeutics for a bad cholesterol treatment drug known as lerodalcibep. As reported by CNBC TV18, lerodalcibep is approved in the EU under the brand name Lyrokaul for the treatment of adult patients with hypercholestrolaemia and mixed dyslipidaemia. In the US, it is USFDA-approved under the brand name Lerochol as an adjunct to diet and exercise to reduce low-density lipoprotein cholesterol (LDL-C) in adults with hypercholesterolemia, including heterozygous familial hypercholesterolemia (HeFH). The agreement grants Sun Pharma rights to commercialise and manufacture lerodalcibep worldwide, excluding the US and China. LIB Therapeutics will receive an upfront payment and future milestone payments, along with royalties based on net sales in the licensed territories.
According to CNBC TV18, Sun Pharma and its subsidiaries have entered into an exclusive licensing agreement with LIB Therapeutics Inc. The agreement grants Sun Pharma rights to commercialise and manufacture lerodalcibep worldwide, excluding the US and China. LIB Therapeutics will receive an upfront payment and future milestone payments, along with royalties based on net sales in the licensed territories. The agreement will strengthen Sun Pharma's innovative medicines portfolio through access to the $3.7 billion PCSK9 market, excluding the US and China, which is growing at a compound annual growth rate (CAGR) of 38%. Europe alone accounted for $2.9 billion of this market in MAT Q2 2026, as reported by Live Mint.
As reported by CNBC TV18, lerodalcibep, marketed as Lryokaul, is a once-monthly PCSK9 inhibitor for lowering low-density lipoprotein cholesterol (LDL-C), with six-month EU ambient storage. It received European Union approval on September 21, 2026. The product is described as a novel antibody-mimetic biologic and recombinant fusion protein that inhibits proprotein convertase subtilisin/kexin type 9 (PCSK9). It helps deliver sustained reductions in low-density lipoprotein cholesterol (LDL-C), often called 'bad' cholesterol, with once monthly 300 mg/1.2 ml subcutaneous injection.
For the June quarter, Sun Pharma reported robust financial results with consolidated net profit rising 27% to ₹2,894.79 crore compared to the year-ago period. According to Live Mint, the company's consolidated revenue from operations stood at ₹15,299.88 crore in Q1, up from ₹13,851.4 crore in the corresponding quarter of the previous year. These strong financial results provide a solid foundation for the company's strategic expansion through both the Organon acquisition and the lerodalcibep licensing agreement.
