Outlook Business Desk
Sun Pharmaceutical Industries plans to acquire US-based Organon & Co in an all-cash deal worth $11.75 billion including debt. The move places it among the biggest entries in India’s list of outgoing acquisitions.
Outbound deals refer to Indian companies buying foreign businesses or assets. Firms use this route to expand globally, enter new markets and access advanced technologies while strengthening their international presence through such acquisitions.
Organon, once part of Merck, operates in women’s health covering contraception, fertility and menopause care. It also develops biosimilars, making it a strategic addition in Sun Pharma’s global expansion plans.
With this deal, Sun Pharma seeks access to Organon’s portfolio of more than 70 products available across 140 countries. It aims to deepen its presence in women’s health while also expanding into innovative therapies and biosimilars.
Sun Pharma will acquire all outstanding shares of Organon at $14 per share. The companies stated that this represents a premium of over 24% compared to the stock’s last closing price on Friday.
India’s outbound merger and acquisition activity reached $22 billion in 2025, marking a decade high. The Economic Times reported that companies such as Tata Motors and Tega Industries led the growing list of outgoing acquisitions.
Tata Steel’s $12 billion acquisition of Corus Group in 2007 stands among the largest. The deal transformed the company into a global steel player and remains a key name in the list of outgoing acquisitions.
Meanwhile, Bharti Airtel acquired Zain Group’s African mobile operations for $10.7 billion in 2010. It introduced its cost-efficient model focused on scale and pricing, expanding its subscriber base across 15 countries covering nearly 450 million people.
Hindalco Industries acquired US-based Novelis Inc. for $6 billion in 2007 through an all-cash deal. The acquisition made it the world’s largest aluminium rolled products company and marked its transition into a multinational business.
Tata Motors acquired Iveco Group for $4.45 billion in July 2025 to expand its commercial vehicle business globally. Meanwhile, ONGC Videsh acquired Imperial Energy for $2.6 billion in 2008 to secure energy assets in Russia.