Sun Pharmaceutical Industries has agreed to acquire Organon, a U.S.-listed global healthcare company, in a deal valued at $11.75 billion. Organon was spun off from Merck in 2021 and operates across women's health, biosimilars, and established branded medicines. The acquisition would mark Sun Pharma's largest-ever deal and significantly expand its global footprint beyond its current generics-heavy business. Organon brings a diversified portfolio with meaningful revenue from international markets, which would give Sun Pharma instant scale in segments it has been building toward organically. The deal structure and financing terms have not been detailed in available disclosures, so the capital and debt impact on Sun Pharma's balance sheet is not yet clear. For the Indian pharma sector, this is a signal that large domestic players are willing to pursue transformative acquisitions at the global level. Watch for details on deal financing, regulatory approvals across multiple markets, and how Sun Pharma plans to integrate Organon's broader product lines into its existing commercial operations.
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.
