Sun Pharma to buy Organon for $11.75 billion, enters biosimilars
Business
Sun Pharma is making headlines after announcing it will buy Organon & Co. for $11.75 billion.
This move is all about going global (especially in women's health and biosimilars) by picking up Organon shares at $14 each.
The purchase will be funded through a mix of cash and bank loans.
India's largest overseas deal since 2007
This is India's largest overseas deal by an Indian company since Tata Steel's Corus deal in 2007. With help from big banks like Citigroup and JPMorgan,
With the acquisition, combined revenue would be about $12.4 billion, and yes, they will also take on Organon's $8.6 billion debt as part of the package.
Sun Pharma would enter biosimilars among the top 10 players globally and become one of the top 25 pharmaceutical companies.