Shares of Sun Pharmaceutical Industries fell by more than 4% to ₹1,643.60 on Friday, following reports of a $12 billion acquisition offer for Organon & Co. This potential deal has raised investor concerns due to Organon's $9.5 billion debt and competitive pressures in the pharmaceutical market. Sun Pharma has completed a detailed due diligence process over three months and is finalizing a financing package with the help of global banks, including JPMorgan, MUFG, and Standard Chartered Bank. If successful, this acquisition would mark the largest overseas merger and acquisition involving an Indian pharmaceutical company. Despite the risks, Sun Pharma's management is prepared to leverage its ₹26,000 crore (approximately $3.2 billion) cash reserves to fund this ambitious bid. The company has previously engaged in significant acquisitions, including the $355 million purchase of Checkpoint Therapeutics.