Sun Pharmaceutical Industries (Sun Pharma) to acquire Organon for $11.75 billion

Key facts

• Sun Pharmaceutical Industries (Sun Pharma) has entered into a definitive agreement to acquire 100 percent of the equity stake of US-based Organon in an all-cash deal valued at $11.75 billion.
• Sun Pharma will acquire the shares at $14 per share, with the transaction expected to close in early 2027.
• The acquisition is funded through available cash resources and committed financing from Citigroup Global, JPMorgan Chase, and MUFG Bank.
• This represents the largest acquisition in the history of Sun Pharma, surpassing its previous purchases of Ranbaxy for $4 billion and Taro.
• The deal provides Sun Pharma access to a women's health portfolio of more than 70 products commercialised across 140 countries, including the United States, Europe, China, Canada, and Brazil.
• Combined revenues are expected to be around $12.4 billion, positioning Sun Pharma among the world's top 25 drugmakers and the top 10 biosimilars players globally.
• In 2025, Organon generated $6.2 billion in revenue with an adjusted EBITDA of $1.9 billion and a cash balance of $574 million.
• Organon currently carries a debt of $8.6 billion.
• J.P. Morgan and Jefferies acted as financial advisors to Sun Pharma, while White & Case and AZB provided legal advisory.