Sun Pharmaceutical Industries, India's largest drugmaker, has agreed to buy New Jersey-based Organon & Co in an all-cash deal valuing the U.S. company at $11.75 billion. The acquisition marks one of the biggest overseas deals ever attempted by an Indian pharmaceutical company and signals a major push by Sun Pharma into the global generics and specialty drugs market. Organon, spun off from Merck in 2021, focuses on women's health, biosimilars, and established branded medicines, product lines that complement Sun Pharma's existing generics portfolio. An all-cash deal of this size means Sun Pharma will likely need a combination of its own reserves and external debt financing, which could reshape its balance sheet significantly. If completed, the combined entity would give Sun Pharma a much larger footprint in the U.S. market, which is the world's most lucrative pharmaceutical market, and accelerate its push into biosimilars, a fast-growing segment where branded biologics face cheaper competition. Investors and analysts will be watching closely for deal financing details, regulatory clearance timelines, and any guidance on how Sun Pharma plans to manage integration costs.
HDFC Bank's board has approved Rajiv Kumar, former Chief Election Commissioner and financial services secretary, as its Part-time Non-Executive Chairman from June 30, 2026. His chairmanship still requires RBI approval, but the move ends the bank's prolonged search for a permanent board leader.
Indian startups raised $1.1 billion across 16 deals in the week of June 21-26, 2026, up 2.5 times from the prior week, with CRED's $900 million Series H led by Meta accounting for most of the total. Square Yards became India's 131st unicorn after closing a $95 million round.
Jet fuel costs dropped sharply after a US-Iran interim peace deal, but airlines are expected to use the savings to rebuild margins rather than cut fares. Tight capacity, aircraft delivery delays, and weak budget carriers give major carriers unusual pricing power heading into the second half of 2026.
Meta is investing $900 million in CRED at a $4.5 billion valuation, the largest Indian startup round of 2026, as founder Kunal Shah moves to a global leadership role at WhatsApp. Miten Sampat takes over as interim CEO, and a major employee stock buyback is expected within weeks.
