Sun Pharma agreed to acquire Organon & Co. for $11.75 billion in an all-cash transaction expected to close in early 2027. The acquisition adds Organon’s women’s health products, legacy brands, and biosimilars, supporting Sun’s strategy to expand globally while strengthening its women’s health position. Organon was spun out of Merck in 2021 and has accumulated significant debt since the transaction. The combined group expects the deal to broaden access across multiple regions, including the US, Europe, and emerging markets. The move follows continued consolidation among mid-to-large pharma as companies seek diversified specialty portfolios and stronger regional commercialization scale.