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Sun Pharma 'bull' explains the benefits of the potential Organon acquisitionMacquarie believes the transaction appears strategically attractive, based on the complementary nature of the two companies’ portfolios and geographic presence.By Meghna Sen  April 21, 2026, 11:18:11 AM IST (Published)2 Min ReadShares of Sun Pharmaceutical Industries Ltd. are trading marginally higher on Tuesday, April 21, as investor focus remains on a potential acquisition of Organon.

Brokerage firm Macquarie said it has received multiple investor queries around the strategic rationale and growth prospects of a possible deal. The brokerage said that discussions have largely centred on whether such an acquisition makes strategic sense and how the combined entity could scale.

Macquarie believes the transaction appears strategically attractive, based on the complementary nature of the two companies’ portfolios and geographic presence.

The brokerage said the acquisition could deepen market penetration through a broader product portfolio and new offerings across existing markets.

Organon’s women’s health and respiratory franchises could be scaled in Sun Pharma’s key markets, including India. In addition, the deal would strengthen Sun’s commercial presence across the US, EU, China and Japan, while also providing diversification through a meaningful entry into biosimilars.

Macquarie said that there has been limited investor pushback on the financial rationale of the potential acquisition, reflecting confidence in the deal’s underlying economics.

At an estimated enterprise value of $12 billion, the brokerage expects low-teen earnings accretion in the first year post completion, even without factoring in synergies.

It added that the combined entity’s revenue and EBITDA could nearly double compared to Sun Pharma on a standalone basis, with pro-forma leverage remaining manageable at around 2.5x net debt to EBITDA.

Macquarie also expects the company to return to a net cash position within three to four years.

The brokerage has a price target of ₹2,150 on the stock, and sees key catalysts in the form of upcoming March quarter results, market share gains in generic GLP-1 therapies, and traction in recently launched patented products.

Shares of Sun Pharma were trading 0.09% higher at ₹1,670.10. The stock has declined around 5% over the past month.Continue ReadingNote To ReadersDisclaimer: The views and investment tips expressed by investment experts on CNBCTV18.com are their own and not that of the website or its management. CNBCTV18.com advises users to check with certified experts before taking any investment decisions.TagsSun PharmaSun Pharma Share PriceSun pharma shares