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India’s Sun Pharmaceutical Industries (NSE: SUN) has announced a major acquisition, agreeing to purchase U.S.-based Organon & Co (NYSE: OGN) in an all-cash deal valued at approximately $11.75 billion. The move marks a significant step in Sun Pharma’s strategy to expand its global presence and strengthen its position in key pharmaceutical segments, including women’s health, branded generics, innovative medicines, and biosimilars.
Under the terms of the agreement, Organon shareholders will receive $14.00 per share in cash. This acquisition is expected to significantly enhance Sun Pharma’s product portfolio by adding more than 70 established and innovative medicines across women’s health and general therapeutic areas. Organon’s strong footprint in over 140 international markets will also provide Sun Pharma with broader geographic reach and improved market penetration.
Organon, which was spun off from Merck (NYSE: MRK) in 2021, has demonstrated solid financial performance. The company reported revenue of $6.2 billion and adjusted EBITDA of $1.9 billion for 2025, making it an attractive target for expansion-focused pharmaceutical companies. By integrating Organon’s assets, Sun Pharma aims to accelerate growth and diversify its revenue streams.
Following the completion of the deal, the combined entity is projected to generate pro forma revenue of around $12.4 billion. This would position Sun Pharma among the top 25 global pharmaceutical companies. Additionally, the acquisition is expected to establish Sun Pharma as a top-three player in the global women’s health market and the seventh-largest company in the biosimilars segment.
Sun Pharma plans to finance the transaction through a combination of internal cash reserves and committed bank financing. The deal has already received approval from both companies’ boards and is expected to close in early 2027, pending regulatory clearances and shareholder approvals. This strategic acquisition underscores Sun Pharma’s ambition to become a leading global pharmaceutical powerhouse while expanding its influence in high-growth therapeutic areas.
