Sun Pharma to acquire Organon in $11.75 billion all-cash deal

Acquisition to expand the company's women’s health and biosimilars footprint, positioning it among top 25 drugmakers globally

In one of the largest outbound deals by an Indian drugmaker, Sun Pharmaceutical Industries Limited has agreed to acquire Organon & Co. in an all-cash transaction valuing the latter at $11.75 billion, the companies said on April 27, 2026.

Under the definitive agreement, Sun Pharma will buy all outstanding shares of Organon at $14 per share, marking a significant strategic expansion for India’s largest pharmaceutical company by revenue.

The deal, approved by the boards of both companies, is expected to close in early 2027, subject to regulatory clearances and shareholder approval.

Organon, which was spun off from Merck & Co. in 2021, has built a strong global presence in women’s health and established brands, with a portfolio of over 70 products across 140 countries. Its footprint spans key markets including the US, Europe, China, Canada and Brazil, supported by six manufacturing facilities across the European Union and emerging markets.

The acquisition is in line with Sun Pharma’s strategy to scale up its innovative medicines business while strengthening its presence in branded generics. The transaction will also mark Sun Pharma’s entry into the biosimilars segment, positioning it among the top 10 global players in this space.

Post-acquisition, the combined entity is expected to report revenues of about $12.4 billion, placing it among the top 25 global pharmaceutical companies. The deal will also significantly enhance Sun Pharma’s positioning in women’s health, making it a top three global player in the segment, while expanding its reach to 150 countries. 

Dilip Shanghvi, Executive Chairman of Sun Pharma, said, “This transaction represents a significant opportunity for Sun Pharma to build on its vision of Reaching People and Touching Lives. Organon’s portfolio, capabilities and global reach are highly complementary to our own, and we believe that bringing the two organizations together can create a stronger and more diversified platform."

Kirti Ganorkar, Managing Director of Sun Pharma, said, “This transaction is a logical next step in strengthening Sun Pharma’s global business. Together, we will become a partner of choice for acquiring and launching new products. Our immediate priorities will be business continuity, disciplined integration and responsible value creation."

Carrie Cox, Executive Chair of Organon, commented, “We believe Sun Pharma is well positioned to support Organon’s businesses, employees and patients globally, and to further advance our commitment to delivering impactful medicines and solutions.”