An Indian pharmaceutical company announced Sunday it will purchase a major American drug manufacturer in a massive cash transaction worth nearly $12 billion.
Sun Pharmaceutical Industries revealed plans to buy Organon & Co for approximately $11.75 billion in an all-cash acquisition, according to a joint announcement from both companies released over the weekend.
The transaction represents one of the largest pharmaceutical industry deals in recent months, with the Indian company set to take complete ownership of the U.S.-based drugmaker through the cash purchase.
