New Delhi, April 27 -- With its $11.75 billion acquisition of Organon, a Merck spinoff, Sun Pharmaceutical has officially embarked on one of the most ambitious overseas expansions ever by an Indian pharmaceutical company. Markets cheered the announcement on 27 April, sending the stock soaring almost 8%.

This reflects optimism around scale expansion and strategic repositioning. With Organon's $6.2 billion revenue and $1.9 billion Ebitda in CY25, the combined entity will hit a revenue of $12.4 billion, basis FY25 revenues for Sun Pharma. Ebitda stands for earnings before interest, taxes, depreciation, and amortization.

For a company long seen primarily as a specialty generics exporter, this acquisition strengthens its pivot toward global ...