India Pharma Outlook Team | Monday, 27 April 2026
India’s Sun Pharmaceutical Industries has announced a major Sun Pharma Organon acquisition, agreeing to buy U.S.-based Organon & Co. in an all-cash deal valued at USD 11.75 billion, including debt.
The company will pay USD 14 per share to acquire all outstanding stock, according to a filing released Monday.
“Following a comprehensive review of strategic alternatives, our Board determined that this all cash transaction offers compelling and immediate value to Organon stockholders,” said Carrie Cox in the joint statement.
Organon, spun off from Merck in 2021, focuses on women’s health and biosimilars. It has a portfolio of over 70 products sold across 140 countries, with strong presence in the U.S., Europe, China, Canada, and Brazil, supported by six manufacturing sites.
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The Sun Pharma Organon acquisition is expected to push Sun Pharma into the top 25 global drugmakers, with combined revenue reaching USD 12.4 billion. The deal also strengthens its footprint in the U.S., a key market for growth.
“This transaction is a logical next step in strengthening Sun Pharma’s global business,” said Kirti Ganorkar. The company aims to scale its medicine portfolio and expand its innovative offerings.
Sun Pharma said the deal aligns with its strategy to grow its innovative medicines segment, which currently spans dermatology, ophthalmology, and onco-dermatology. This segment contributed 20 percent of total sales in FY2025 and is expected to rise to 27 percent after the acquisition.
“Organon’s portfolio, capabilities and global reach are highly complementary to our own,” added Dilip Shanghvi.
Organon shares jumped nearly 31 percent on Friday following earlier reports of the deal, while Sun Pharma stock closed 3.6 percent lower.
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