Leading drugmaker Sun Pharma is doubling down on its specialty portfolio, launching new products and ramping up commercialization spend even as uncertainty looms over potential US tariffs on imported branded or patented medicines.
The company has launched Leqselvi - a treatment for alopecia areata - in the September quarter and is now preparing for the US rollout of Unloxcyt in the second half of the fiscal.
Both Leqselvi and Unloxcyt were acquired by Sun Pharma. The Mumbai-based drugmaker acquired Leqselvi (deuruxolitinib) by purchasing Concert Pharma in March 2023 in a deal valued at approximately $576 million. Unloxcyt was acquired in March 2025 after taking over Checkpoint Therapeutics for approximately $355 million (plus a potential $0.70/share milestone payment). The drug is used against a specific form of skin cancer and fills a niche in Sun Pharma’s onco‑dermatology franchise, offering a new treatment alternative to existing PD‑1 inhibitors like Keytruda and Libtayo.
Sun Pharma’s specialty (innovative medicines) sales for Q2FY26 stood at $313 million, marking a 16.4% on-year growth. A significant share of the sales came from the US market as Sun Pharma’s specialty sales in the region surpassed generics for the first time, underscoring a pivot toward high-value therapies.
“We’ve been pleased with the initial access and response to Leqselvi,” said Richard Ascroft, CEO of Sun Pharma North America during an earnings call on November 5. “We expect access and uptake to improve through the year.”
Sun Pharma has plans to spend $100 million in FY26 to support the commercialization of Leqselvi and Unloxcyt. The company confirmed that sales teams for both products are already in place, and while some upfront marketing costs are one-time, ongoing expenses such as patient support programs and promotional activities will continue into FY27 and beyond.
Tariff Uncertainty in US
Despite the investment, Sun Pharma remains cautious on the broader US policy environment. The Trump administration’s proposed 100 percent tariff on imported patented drugs - under Section 232 - has been paused but the company said it is closely monitoring developments.
“There’s a lot of uncertainty,” Ascroft said. “We’re not paying any additional tariffs today.”
Sun Pharma confirmed it was not among the 17 companies that received letters from the Trump administration regarding Medicaid pricing negotiations under the TrumpRx initiative. Executives added that they are open to expanding US manufacturing if policy shifts warrant it.
Meanwhile, Sun Pharma continues to see strong growth in ex-US specialty business with Ilumya now launched in 35 countries. Emerging markets and Rest of World segments posted double-digit growth aided by generics as well as specialty products such as Ilumya and Odomzo.
The R&D spend for the quarter stood at Rs 782.7 crore, or 5.4% of sales, with innovative R&D accounting for 38 percent of the total expenditure. The management guided that the full-year R&D spend will likely come in at the lower end of its 6-8 percent range.
Despite macro uncertainties, Sun Pharma has been bullish on its specialty pipeline and global expansion. “We continue to invest in differentiated capabilities and are well-positioned to grow our innovative medicines business,” said Chairman Dilip Shanghvi.
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