Another key highlight of the acquisition is the expansion of Sun Pharma’s women’s health portfolio. According to the statement, the acquisition would make Sun Pharma one of the top three players in women’s health.
On Monday, Sun Pharma shares jumped more than 7 percent after the company announced its acquisition of Organon.
Headquartered in Mumbai, Sun Pharma is the largest pharmaceutical company in India commanding, by its own admission, over 8 percent market share in the domestic market.
Organon, spun off from Merck & Co. in 2021, is a global healthcare company which focuses on women’s health, with a portfolio of more than 70 products, including for breast cancer, contraception, osteoporosis and menopause. Its portfolio spans to biosimilars and is marketed in more than 140 countries, with key markets in the US, Europe, China, Canada, and Brazil.
Dilip Shanghvi, executive chairman of Sun Pharma, said in the press statement that the acquisition represents a significant opportunity for growth and diversification.
“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,” he said.
Kirti Ganorkar, managing director of Sun Pharma, added that the acquisition is a “logical next step” in strengthening the pharma giant’s global business. “Our immediate priorities will be business continuity, disciplined integration and responsible value creation. We see strong potential in leveraging Organon’s talent pool,” he added.
For Organon, the acquisition offers immediate value to stockholders.
The press statement quoted Carrie Cox, executive chair of Organon, as having 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.”
(Edited by Amrtansh Arora)
