Sun Pharma moves closer to Organon acquisition as shareholders approve deal; stock in focus

Pharma major Sun Pharmaceutical Industries (Sun Pharma) on Friday, July 23, in an exchange filing, shared an update on the previously announced Organon acquisition.

Sun Pharma said that the stockholders of Organon & Co. ("Organon") have approved the proposals in connection with the previously announced merger transaction under which Organon is expected to become a wholly owned subsidiary of Sun Pharmaceutical Holdings USA, Inc., an indirect wholly owned subsidiary of Sun Pharma.

The shareholder approval marks an important milestone towards completion of the proposed transaction.

The drug major added that the acquisition remains subject to the satisfaction of the remaining customary closing conditions, including applicable regulatory approvals.

Sun Pharma's Organon acquisition: Key details

In April 2026, Sun Pharma said it would acquire US-based Organon & Co in an all-cash deal at an enterprise valuation of $11.75 billion.

The company had signed a definitive agreement under which Sun Pharma will acquire all outstanding shares of Organon for $14 per share in an all-cash transaction with an enterprise valuation of $11.75 billion, Sun Pharmaceutical Industries said in a statement.

Strategic expansion and market position

Organon is a global healthcare company formed through a spinoff from Merck, known as MSD outside of the US and Canada, in 2021.

Upon successful consummation of the transaction, Sun Pharma is poised to be among the top 25 global pharmaceutical companies with a combined revenue of $12.4 billion, a leading player in established brands and branded generics.

Leadership commentary

Commenting on the acquisition, Sun Pharma Executive Chairman Dilip Shanghvi said, "This transaction represents a significant opportunity for Sun Pharma to build on its vision of 'reaching people and touching lives. Organon's portfolio, capabilities and global reach are highly complementary to our own, and we believe that bringing the two organisations together can create a stronger and more diversified platform."

Organon Executive Chair Carrie Cox said, "Following a comprehensive review of strategic alternatives, our Board determined that this all-cash transaction offers compelling and immediate value to Organon stockholders.

"We believe Sun Pharma is well-positioned to support Organon's businesses, employees and patients globally, and to further advance our commitment to delivering impactful medicines and solutions."

What shareholders need to know

Post the transaction, Sun Pharma said it will also become a top-three company in global women's health, creating a commercial platform for future growth and the 7th largest global biosimilar player.

It will have presence in 150 countries, with 18 large markets, each generating over $100 million in revenues after the deal is completed.