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Sun Pharma inks ‘transformatory’ agreement to buy US-based Organon for $11.75 billion

Sun Pharmaceutical Industries has agreed to acquire US‑based Organon & Co in an all‑cash deal valued at $11.75 billion, marking the largest overseas acquisition by an Indian drugmaker. Sun will buy Organon shares at $14 each, subject to regulatory and shareholder approvals, with closure expected in early 2027. Organon operates in women’s health, biosimilars and general medicines across 140 countries. The transaction gives Sun global entry into biosimilars, a stronger US and China presence, and expanded innovation capabilities. The combined entity will have $12.4 billion in revenue and rank among the world’s top 25 pharmaceutical companies.

India and New Zealand sign FTA, slash tariffs on 95% of goods

India and New Zealand have signed a free trade agreement, lowering tariffs on key products and deepening economic ties. Finalised after nine months of talks, the pact will cut or remove duties on 95 per cent of New Zealand exports to India, including fruits, seafood, metals and scrap. India has excluded sensitive farm sectors such as dairy and sugar from market access. New Zealand will open 118 services sectors and offer 6,000 temporary and working holiday visas for Indians, with eased post‑study work rights. The deal is expected to boost Indian exports in textiles, pharmaceuticals and engineering goods. Two‑way trade remains modest at about $2.4 billion.

Mayday: Airlines warn of operational shutdown risk as ATF prices soar

India’s airline industry has warned the Union Government that operations are at risk due to a sharp surge in aviation turbine fuel prices. In a letter to the Civil Aviation Ministry, the Federation of Indian Airlines cited severe financial stress caused by pricing distortions between domestic and international fuel. While domestic price increases were capped, international ATF costs rose sharply, widening airline losses. ATF prices have climbed dramatically amid higher crude prices and widening crack spreads, pushing fuel costs to nearly 60 per cent of operating expenses. Additional pressures include rupee depreciation and airspace disruptions. Airlines have sought urgent relief through tax cuts and pricing reforms, warning of reduced connectivity and possible flight cancellations.

EV fleet registrations fall 25% as ‘Anti-Burn’ Model takes hold; Tata leads entry segment

India’s electric vehicle fleet market is slowing, with new EV registrations for fleet use falling 25 per cent year-on-year to 5,559 units in FY26, according to Vahan data. Operators are shifting focus from rapid expansion to better utilisation and sustainable economics amid reduced subsidies and higher costs. Despite slower additions, the installed EV cab fleet stands at about 50,000 vehicles nationwide. Tata Motors dominated new registrations with a 63 per cent market share, driven by entry-level models. Meanwhile, some operators are adopting premium, utilisation‑led or fully controlled fleet models. Buying patterns are changing, with smaller operators and driver‑owners emerging as key buyers, while manufacturers prepare wider EV portfolios and alternative ownership models.

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Published on April 28, 2026