Sun Pharmaceutical Industries has agreed to acquire US-based Organon & Co. for $11.75 billion, marking one of the largest overseas deals by an Indian pharma company. The move instantly scales Sun Pharma's footprint in two high-growth areas: women's health and biosimilars, where Organon already has established commercial infrastructure across global markets. Organon was spun off from Merck in 2021 and carries a portfolio of branded, biosimilar, and established medicines sold in more than 140 countries. The deal gives Sun Pharma immediate access to that distribution reach rather than building it organically, which typically takes years and carries higher execution risk. For Sun Pharma, whose revenue is already skewed toward specialty and branded generics, Organon adds a meaningful innovative medicines layer. The combined entity would rank among the largest diversified pharma players globally. Watch for details on deal financing, debt structure, and regulatory clearances across multiple jurisdictions, all of which will shape how markets price the transaction in the near term.
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.
