Sun Pharmaceutical board to consider ₹15,000 crore NCD issue on October 12

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.ALSO READ | Sun Pharma Q1 Results: Stock falls 3% from highs after US sales miss expectationsLerodalcibep is approved in the EU under the brand name Lyrokaul for the treatment of adult patients with hypercholestrolaemia and mixed dyslipidaemia, Sun Pharma said.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.ALSO READ | Sun Pharma shares fall despite White House pricing deal winning two-year tariff reprieveLerodalcibep, marketed as Lryokaul, is a once-monthly PCSK9 inhibitor for lowering low-density lipoprotein cholesterol , with six-month EU ambient storage.

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.ALSO READ | Sun Pharma may not announce any dividends, buybacks between FY27-29 - Bernstein explains whySun Pharma said lerodalcibep is a novel antibody-mimetic biologic and recombinant fusion protein that inhibits proprotein convertase subtilisin/kexin type 9 . 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.