Sun Pharma’s acquisition of Organon marks a pivot toward biosimilars, utilizing a cheap valuation and strong cash reserves to avoid the chronic post-merger stock slumps seen by Indian rivals.
Sun Pharma’s acquisition of US-based Organon looks like a financial bargain for the global scale and market access it offers. But the Indian drugmaker may need to look elsewhere for an R&D boost that could put it at the cutting edge of healthcare.
Sun Pharma bought NJ-based Organon for $12 billion, in the largest overseas acquisition by any Indian pharma company.