Sun Pharmaceuticals agreed to acquire Merck spinoff Organon & Co for $11.75 billion in cash, a deal expected to close in early 2027. Sun said the acquisition expands its women’s health portfolio, adds legacy brands and biosimilars, and helps reduce Organon’s large debt load accumulated after the 2021 spinout. Organon’s global footprint includes products marketed across the U.S. and more than a hundred countries, while Sun expects the combined platform to strengthen its competitive position in a category with steady demand and strong pipeline opportunity. The transaction is positioned as portfolio and geographic augmentation for Sun’s innovative medicines strategy, with explicit emphasis on scaling women’s health and biosimilar capabilities alongside existing businesses.