biotech / news / / Moneycontrol
Shares of Sun Pharma rose more than 5% in early trade on Monday after the company announced the acquisition of Organon & Co. The stock was trading at Rs 1,705 on the NSE, up 5.22% in morning deals.
Sun Pharma is acquiring Organon & Co., marking the largest-ever Indian pharma takeover.
KEY POINTS
- Post-deal, Sun Pharma's leverage will rise to 2.3 times combined EBITDA and debt reduction becomes key.
- The acquisition grants Sun Pharma entry into biosimilars and expands its reach in China and 17 other countries.
- Combined revenue will reach $12.4 billion, with 27% from innovative medicines and 6% from biosimilars.
- Sun Pharma could become debt-free in three to four years, aided by strong combined cash flows.
COMPANIES
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