Sun Pharmaceutical Industries announced on 27 April 2026 a definitive agreement to acquire Organon & Co., a U.S.-listed pharmaceutical company based in New Jersey. The transaction is an all-cash acquisition with an enterprise value of about $11.75 billion, and Organon shareholders are to receive $14.00 per share in cash.
Key Deal Terms
The boards of directors of both companies approved the transaction. The deal is expected to close in early 2027, subject to customary closing conditions, regulatory clearances, and approval by Organon stockholders. Sun Pharma plans to finance the acquisition through existing cash resources and committed bank financing.
Organon: Company Profile
Organon was spun off from Merck in 2021. Merck is known as MSD outside the United States and Canada. Organon focuses on women’s health, established medicines, and biosimilars. For the year ended 31 December 2025, Organon reported revenues of $6.2 billion and adjusted EBITDA of $1.9 billion.
Sun Pharma: Business Profile
Sun Pharmaceutical Industries is an Indian pharmaceutical company with a global presence in branded generics, innovative medicines, and biosimilars. The company has stated business areas that include women’s health and biosimilars.
Pharmaceutical Industry Context
A merger and acquisition is a corporate transaction in which one company buys another company or combines with it. In an all-cash acquisition, the buyer pays the purchase consideration in cash rather than shares. Enterprise value is a valuation measure that includes equity value and net debt.
Global Scale
The combined entity is projected to rank among the top 25 global pharmaceutical companies. The pro forma revenue of the combined business is estimated at about $12.4 billion.
Last Modified: April 27, 2026