Under assessment · Notification · Phase 1 · day 4, due 3 Dec 2026
Sun Pharmaceutical Industries Limited proposes to acquire 100% of Organon & Co. shares. This share acquisition involves two global pharmaceutical companies. Sun Pharma, a specialty generics firm, will acquire Organon, which focuses on women's health, biosimilars, and general medicines. The transaction creates overlaps in various drug supplies, including IVF treatments.
Sun Pharmaceutical Industries Limited (Sun Pharma) through a wholly owned subsidiary proposes to acquire 100% of the shares of Organon & Co. (Organon) (Acquisition). Sun Pharma is a global specialty generics pharmaceutical company present in over 100 countries. Sun Pharma's portfolio includes cardiology, psychiatry, neurology, gastroenterology and dermatology. In Australia, Sun Pharma is involved in the supply and distribution of drugs across (i) patented medicines, (ii) retail/hospital Sun Pharma branded generics, and (iii) white label generics. Organon is a global healthcare company present in 140 countries and territories. Its portfolio is focused on women's health, biosimilars, and general medicines. In Australia, the Parties overlap in the supply of statins, selective serotonin agonists for migraine treatment, atypical antipsychotics, antidepressants and mood stabilisers. The Parties also overlap in the supply of antigonadotropin-releasing hormones, specifically in the supply of ganirelix acetate, a gonadotropin-releasing hormone (GnRH) antagonist used in in vitro fertilisation (IVF) protocols to prevent premature ovulation. Sun Pharma also has a pipeline cetrorelix acetate product, which has applied for PBS listing and is a GnRH antagonist. Organon supplies Orgalutran, the originator ganirelix acetate product, which went off patent in Australia in 2018. Orgalutran is manufactured by a third party and distributed in Australia by Alphapharm Pty Ltd. Sun Pharma was the first ganirelix acetate generic to enter the market in Australia in 2021 with Ganirelix SUN. To resolve the competitive overlap between Sun Pharma and Organon with respect to the supply of ganirelix acetate, Sun Pharma expanded its existing global ganirelix outlicencing arrangement with Ferring Pharmaceuticals B.V. (Ferring) to Australia (the Ferring Agreement). Under this arrangement, Sun Pharma has agreed to grant exclusive commercialisation, distribution, marketing and sales rights for the generic ganirelix product, Ganirelix SUN, in Australia to Ferring. Ferring will take over the commercialisation activities of Ganirelix SUN in December 2026 when the transfer will be completed. Sun Pharma will continue to manufacture Ganirelix SUN to supply to Ferring. Sun Pharma has provided a summary document of the Ferring Agreement which is attached below.