Sun Pharmaceutical Acquires Organon for $11.75 Billion

Sun Pharmaceutical Industries Limited entered a merger agreement on April 26, 2026, to acquire Organon & Co. (OGN) in an all-cash deal valued at $11.75 billion.

Deal Structure:

Sun Pharma will acquire all outstanding shares of Organon for $14 per share, representing a 24.33% premium from the stock’s last close.

Company Profile:

Organon is a global healthcare company that develops and sells prescription medicines, including women’s health products, biosimilars, and treatments for cardiovascular, respiratory, and other conditions across international markets.

Sun Pharmaceutical is a global pharmaceutical company based in Mumbai that develops and manufactures specialty generics, innovative medicines, and consumer healthcare products, with a strong presence in India, the US, and other international markets.

Deal Details and Timeline:

Earlier this month, Bloomberg reported that Sun Pharmaceutical Industries and Germany’s Grünenthal were among firms vying for Organon. The stock was trading at $9.23 when it was revealed that both companies were working with advisers on potential binding bids for Organon.

Sun Pharma intends to finance the deal using a mix of its existing cash reserves and committed bank financing.

The deal will happen by merging Organon with a Sun Pharma subsidiary, and Organon will continue to exist after the merger.

The deal is expected to close in early 2027.

The financial advisors to Organon were Morgan Stanley and Goldman Sachs, while its legal advisors were Sullivan & Cromwell and Cyril Amarchand Mangaldas. On the other side, J.P. Morgan and Jefferies acted as financial advisors to Sun Pharmaceutical, with White & Case and AZB & Partners serving as legal counsel.

Sun Pharmaceutical is paying 7.06 times EBITDA for Organon.

Deal Metrics:

For more details on this merger and acquisition transaction, please visit the Deal Metrics page here:

Deal Metrics for the acquisition of Organon & Co. (OGN) by Sun Pharmaceutical Industries Limited

The Deal Metrics page for each merger or acquisition includes:

• A spread history chart of the merger from announcement through eventual completion or failure.
• Every event as the merger progresses through the expiration of the HSR period, various regulatory approvals, shareholder votes, etc.
• News and SEC filings.
• A history of deal updates.
• And a whole lot more.

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Editor’s Note: Baranjot Kaur contributed to this article