Sun Pharmaceutical Industries will acquire Organon & Co in an all-cash deal, valuing the US drugmaker ​at about $11.75 billion including debt, in one of India’s ​biggest outbound deals. 

The acquisition would help Sun Pharma further expand its ‌women’s health portfolio with access to Organon’s portfolio of more than 70 products across women’s health and general medicines, commercialised across 140 countries. 

As part of the deal, Sun Pharma will buy all the outstanding shares of Organon for $14.00 per share, the companies said in a joint statement, representing a premium of more than 24 per cent to the stock’s last close on Friday.

Organon had a debt of $8.6 billion, as of December 31, 2025. In February, the healthcare firm reported a 5 per cent fall ‌in fourth-quarter revenue, and a net loss of $205 million. 

With the acquisition of Organon, spun off from Merck in 2021, Sun Pharma also aims to grow its innovative medicines portfolio and enter into biosimilars.

“Organon’s portfolio, capabilities and global reach are highly complementary to our own, and we believe that bringing the two organizations together can create a stronger and more diversified ​platform,” said Dilip Shanghvi, executive chairman of Sun Pharma.