Sun Pharma, India's largest pharma company, has announced the acquisition of US-based Organon in an all-cash deal worth $11.7 billion — the biggest overseas takeover in Indian pharma history. The deal propels Sun Pharma into the global top 25 pharmaceutical companies and the top 3 in women's health. Organon brings over 70 products across 140 markets, adding biosimilars and women's health to Sun Pharma's portfolio. Innovative medicines will now contribute ~27% of revenues, improving margins. While the long-term strategy is compelling, analysts flag integration risks across 150 countries and a short-term debt load of $8.6 billion. The deal is expected to close by early 2027, pending regulatory approvals.