Sun Pharmaceutical Industries Ltd. has agreed to acquire New York-listed women’s health-care company Organon & Co., expanding its global reach with one of the biggest outbound deals by an Indian company.
India’s largest drugmaker will pay $14 per Organon share in cash, giving the New Jersey-based company an enterprise valuation of $11.75 billion, according to a joint statement. The deal represents a 60% premium to Organon’s closing price on Jan. 16, before news of takeover interest emerged.
Organon’s stock jumped 15% in pre-market trading to just shy of $13. The company specializes in women’s health, with a portfolio ...
