Sun Pharmaceutical Industries and Organon & Co have entered into a definitive agreement under which Sun Pharma will acquire all outstanding shares of Organon for USD 14.00 per share in an all?cash transaction with an enterprise valuation of USD 11.75 billion.

The proposed acquisition of Organon is aligned with Sun Pharma’s strategy of growing its innovative medicines business. The combined company becomes a stronger player in established brands /branded generics business. The deal also enables Sun Pharma’s entry into biosimilars as a top-10 global player. Organon’s portfolio, global footprint and strong stakeholder relationships shall complement Sun Pharma’s existing strengths and enhance long?term value creation.

Speaking in this regard, Dilip Shanghvi, Executive Chairman, Sun Pharma, 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. We have deep respect for Organon’s mission and look forward to building on its legacy while driving sustainable long?term growth.”

The transaction has been approved by the Boards of Directors of both Sun Pharma and Organon, and is subject to customary closing conditions, including receipt of required regulatory approvals and approval by Organon stockholders.

Carrie Cox, Executive Chair, Organon, commented, “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.”