On April 26, 2026, Sun Pharmaceutical Industries Limited (“Sun Pharma”) and Organon & Co. (“Organon”) announced an agreement for Sun Pharma to acquire all outstanding shares of Organon in an all-cash transaction valued at $11.75 billion and expected to close in early 2027. Organon will merge with a subsidiary of Sun Pharma and survive the merger.
Organon, spun off from Merck in 2021, has a portfolio of more than 70 products across Women’s Health and General Medicines that includes biosimilars. Sun Pharma is a specialty generics company and the largest pharmaceutical company in India. According to the announcement, this transaction is part of Sun Pharma’s strategy to grow its Innovative Medicines business and enter the biosimilar market.