India, March 10 -- Sun Pharmaceutical Industries Ltd is buying US-based immunotherapy and oncology firm Checkpoint Therapeutics Inc. for $355 million.

This is also Sun Pharma's second acquisition in less than three months and comes as the company which is India's largest drugmaker, looks to size up its specialty therapy portfolio.

This comes at a time when Checkpoint has received approval from the US Food and Drug Administration (FDA) for UNLOXCYT, which can be used for treating adults with metastatic cutaneous squamous cell carcinoma (cSCC), the second-most common type of skin cancer in the US.

There are around 1.8 million cases of cSCC in the US annually, with about 40,000 cases turning severe, and 15,000 deaths ensuing, the firm had...