Mumbai-based Dilip Shanghvi-led Sun Pharmaceutical Industries is moving closer to a binding $12 billion offer for Organon & Co. (NYSE:OGN), marking what could become the largest overseas acquisition by an Indian pharmaceutical company.

Sun Pharma Advances Toward Final Organon Offer

Citing people familiar with the matter, the Economic Times reported that Sun Pharma has completed an extensive due diligence process spanning more than three months.

The company is now finalizing financing arrangements before submitting a firm bid in the coming weeks.

An India-based specialty generic pharmaceutical firm has reportedly mandated at least three global banks to support the transaction, signaling serious intent to execute what would be its most ambitious global expansion effort to date.

Financing Talks And Earlier Interest In Organon

The development ...