M&A

M&A

Sun Pharma to acquire US-based women's health player Organon for $11.75 B

BSE Announcement   Business Line  

Mumbai-based Sun Pharmaceutical Industries is to acquire New Jersey, USA-based Organon & Co. for USD 14 per share, at an enterprise valuation of USD 11.75 Billion in an all-cash deal. Sun Pharma plans to finance the deal through a combination of cash and financing from banks. JP Morgan Securities and Jefferies served as financial advisors to Sun Pharma, with White & Case and AZB & Partners providing legal counsel. Morgan Stanley was the lead financial advisor to Organon, alongside Goldman Sachs as financial advisor and Sullivan & Cromwell and Cyril Amarchand Mangaldas as legal advisors.Organon & Co, a player in women’s health and general medicines (including biosimilars), was formed in 2021 as a spin-off from Merck. The firm has a portfolio of over 70 products commercialised across 140 countries with its largest markets including the USA, Europe, China, Canada and Brazil. It operates six manufacturing facilities in the European Union and emerging markets.For the year ended December 31, 2025, Organon reported USD 6.2 Billion in revenue and adjusted EBITDA of USD 1.9 Billion. The company had USD 8.6 Billion in debt and a cash balance of USD 574 million as of December 31, 2025.