Sun Pharma touched a day high of Rs 1,959.80 on Friday, before slipping into the red, after Organon shareholders approved its buyout.

The news behind the move was actually a positive one. Organon and Co, a US healthcare company, held a shareholder vote and got approval for its merger with Sun Pharma.

Under the deal, Organon will become a wholly owned subsidiary of Sun Pharmaceutical Holdings USA, which itself sits under Sun Pharma.

The company confirmed this in an exchange filing on 24 July, calling it an important milestone, though the deal still needs regulatory clearances and other routine approvals before it can close. This is Sun Pharma’s biggest acquisition ever.

First announced back in April, the all cash deal values Organon at $14 a share, putting the enterprise value at around $11.75 billion. Sun Pharma has said before that it hopes to wrap up the transaction by early 2027.

Organon itself was spun off from Merck in 2021 and brings a portfolio built around women’s health products, biosimilars and long established medicine brands.

Sun Pharma has said that once the deal closes, it expects to rank among the top 25 pharmaceutical companies globally by revenue, become a top three player in women’s health, and become the world’s seventh largest biosimilar maker, with products reaching 150 countries.

As of 12:13 pm, Sun Pharma shares were trading at Rs 1,940.60 on the NSE, down 0.69% on the day.

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