Sun Pharmaceutical Industries has agreed to buy U.S. drugmaker Organon & Co for roughly $11.75 billion in cash, including debt. Under the deal, Sun Pharma will pay $14.00 per share for all outstanding Organon stock, giving it full ownership of the company. Organon was spun off from Merck in 2021 and focuses on three segments: women's health products, biosimilars (cheaper copies of complex biological drugs), and a portfolio of older established medicines sold largely in emerging markets. For Sun Pharma, already India's largest drugmaker by revenue, the deal marks a major step into the global specialty and biosimilars space. Organon's women's health franchise and biosimilar pipeline would significantly broaden Sun Pharma's product reach across the U.S. and international markets. At $11.75 billion, this ranks among the largest overseas acquisitions by an Indian pharmaceutical company. Investors will be watching how Sun Pharma plans to finance the all-cash deal and whether Organon's debt load affects the combined company's balance sheet going forward.
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.
