Pharma major Sun Pharmaceutical Industries Ltd on Wednesday said its board will meet on Monday, October 12, to consider and approve the issuance of listed, rated, unsecured and redeemable non-convertible debentures worth up to ₹15,000 crore. The NCDs are proposed to be issued in one or more tranches through private placement.
The board will also consider matters incidental and connected to the proposed issuance. Last month, Sun Pharmaceutical Industries Ltd announced licensing, commericalisation and manufacturing agreement with LIB Tehrapeutics for a bad cholesterol treatment drug known as lerodalcibep.
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 in adults with hypercholesterolemia, including heterozygous familial hypercholesterolemia , it added. Sun Pharma said it 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. It received European Union approval on September 21, 2026. 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 of 38%.
The global PCSK9 market is approaching $7 billion in 2026. LIB Therapeutics will receive an upfront payment and future milestone payments, along with royalties based on net sales in the licensed territories. It helps deliver sustained reductions in low-density lipoprotein cholesterol , often called "bad" cholesterol, with a once-monthly 300 mg/1.2 mL subcutaneous injection.
Shares of Sun Pharmaceutical Industries Ltd ended at ₹1,783.25, down by ₹17.75, or 0.99%, on the BSE.