Sun Pharmaceutical is bringing Merck spinoff Organon into the fold, paying $11.75 billion in hopes of becoming a top global biosimilar player.
Sun Pharma’s $11.75 billion buy will bring Organon’s portfolio of more than 70 products into its orbit, including six manufacturing sites across the EU and emerging markets.
After the deal closes, the India-based generics pharma is expected to become the seventh largest biosimilar player in the world, according to a Sunday release. The Organon acquisition will also make Sun Pharma one of the top three women’s health companies worldwide, the companies said.
Merck spun out Organon in 2021 to take on certain women’s health, biosimilars and established brands businesses. The New Jersey–based company recorded $6.2 billion in revenue for 2025, plus debts of $8.6 billion million.
Now, Sun will pay $14 per Organon share in an all-cash transaction, with the deal designed to create a “stronger cash generating company,” according to the release. The acquisition is expected to close early next year.
“This transaction is a logical next step in strengthening Sun Pharma’s global business,” Sun Pharma Managing Director Kirti Ganorkar said in a statement on Sunday. “Together, we will become a partner of choice for acquiring and launching new products. Our immediate priorities will be business continuity, disciplined integration and responsible value creation.”
The deal is a ray of light for Organon, which had been weighed down by its debt and was examining strategic options.
The announcement comes on the heels of Amneal Pharmaceuticals’ $1.1 billion deal for Kashiv BioSciences, another buyout inked in hopes of becoming a global biosimilar leader.
