Sun Pharma Shares Drop Nearly 4% as $12 Billion Organon Deal Enters Final Stage

Shares of

eutical Industries slipped nearly 4% in morning trade on Friday after reports indicated that the company is advancing toward a binding $12 billion offer to acquire US-based women's health specialist Organon & Co. According to NSE data, Sun Pharma stock was trading at around Rs 1,653.50, down Rs 63.60 or approximately 3.70% at the time of reporting. The Mumbai-headquartered drugmaker has completed over three months of detailed due diligence on Organon and is now finalising a financing package with global banks. A firm, binding all-cash offer is expected to be submitted in the coming weeks, sources told The Economic Times. Organon has been on Sun Pharma's radar for some time. Serious evaluation intensified towards the end of November last year, shortly after Organon sold its JADA postpartum haemorrhage treatment system to Laborie Medical for up to $465 million as part of a strategic shift to focus on its core women's health biopharma portfolio. If the deal materialises, it would mark Sun Pharma's largest overseas acquisition to date and one of the biggest cross-border pharma transactions by an Indian company. The move aims to significantly strengthen Sun's presence in the US market, particularly in branded drugs, women's health, and biosimilars.