Overview
- Sun Pharmaceutical Industries and Organon announced a definitive agreement for Sun Pharma to buy all Organon shares for $14 in cash, valuing the company at about $11.75 billion including debt.
- The purchase gives Sun Pharma full ownership of the New Jersey-based firm.
- Organon, spun out of Merck in 2021, focuses on women's health, biosimilars, and established medicines and sells more than 70 products across 140 countries.
- Sun Pharma said the combined company would rank among the top 25 global drugmakers with about $12.4 billion in revenue.
- The company said the deal would raise its innovative medicines share of sales to 27% from 20%.