India's Sun Pharma to Buy U.S. Healthcare Company Organon in $11.75 Billion Deal — 2nd Update

By P.R. Venkat

India's Sun Pharmaceutical Industries has agreed to acquire U.S.-listed healthcare company Organon in a deal valuing the company at $11.75 billion, putting the Indian drugmaker on track to become one of the top three global players in women's health.

Sun Pharma has offered to pay $14.00 a share for New Jersey-based Organon in an all-cash deal, the two companies said in a joint statement late Sunday.

Upon completion, Sun Pharma said the acquisition will make it one of the seven largest players in the global market for biosimilars.

Shares of Sun Pharma rose 7.5% on Monday, on track for their biggest one-day gain since July 2021.

The company, which specializes in generics and is one of the biggest pharma names in India by market cap, will fund the deal through a combination of internal cash resources and financing from banks.

Sun Pharma's medicines portfolio includes products in dermatology, ophthalmology and oncodermatology and accounts for about 20% of company sales.

Organon--formed through a spinoff from Merck--has a portfolio of more than 70 products across women's health and general medicines, including biosimilars, commercialized across 140 countries. The company's 2025 revenue was $6.2 billion, and adjusted earnings before interest, tax, depreciation and amortization were $1.9 billion.

Organon had debt of $8.6 billion and a cash balance of $574 million as of the end of 2025.

The transaction, which has been approved by the boards of both companies, is subject to closing conditions, including approvals from regulators and Organon stockholders.

Both companies expect the deal to close in early 2027.

Write to P.R. Venkat at venkat.pr@wsj.com

(END) Dow Jones Newswires

April 27, 2026 02:09 ET (06:09 GMT)