Sun Pharmaceutical Industries and Organon & Co. have entered into a definitive agreement under which Sun Pharma will acquire all outstanding shares of Organon for $14.00 per share in an all‑cash transaction with an enterprise valuation of $11.75 billion.

Organon is a global healthcare company formed through a spinoff from Merck, known as MSD outside of the United States and Canada, in 2021. The proposed acquisition of Organon is aligned with Sun Pharma’s strategy of growing its Innovative Medicines business. The combined company becomes a stronger player in Established Brands /Branded Generics business. The deal also enables Sun Pharma’s entry into biosimilars as a Top-10 global player. Organon’s portfolio, global footprint and strong stakeholder relationships shall complement Sun Pharma’s existing strengths and enhance long‑term value creation.

The transaction has been approved by the Boards of Directors of both Sun Pharma and Organon and is subject to customary closing conditions, including receipt of required regulatory approvals and approval by Organon stockholders.

Upon successful consummation of the transaction, Sun Pharma is poised to be among the top 25 global pharmaceutical companies with combined revenue of $12.4 billion; a leading player in Established Brands/Branded Generics; a more Innovative Medicines focused company with 27% revenue share; a top 3 company in global Women’s Health, creating a commercial platform for future growth; the 7th Largest global biosimilar player; a company with presence in 150 countries, with 18 large markets, each generating over $100 million revenues.

Sun Pharmaceutical Industries is the world's fourth largest specialty generic pharmaceutical company and India's top pharmaceutical company.