Sun Pharmaceutical Industries, based in India and led by Dilip Shanghvi, has signed a definitive agreement to acquire US-based Organon & Co for $11.75 billion in an all-cash transaction. To finance this acquisition, Sun Pharma is exploring multiple options, including raising approximately $10 billion through Eurobonds and offshore bank loans of $3 billion to $4 billion. The deal is expected to close by early 2027, pending necessary approvals. Sun Pharma's current liquidity of $3.2 billion will also contribute to the funding, with the company planning to allocate $2 billion to $2.5 billion from internal accruals. This acquisition will elevate Sun Pharma into the ranks of the top 25 global pharmaceutical firms, with a projected combined revenue of $12.4 billion. The company aims to leverage Organon’s presence in 140 markets to enhance growth and efficiency, while also realizing potential cost synergies of up to $350 million over the next few years.