A $12 Billion US Deal Pushes India’s Sun Pharma Into Big Leagues

For Indian billionaire Dilip Shanghvi, who made his fortune selling cheap generic drugs to the world, it was clear at least more than a decade ago that a shift toward specialty treatments would be key to success in the crowded local market.

Last week, his firm Sun Pharmaceutical Industries Ltd. announced a $12 billion deal that could be the biggest test yet in the company’s long-brewing bid to transform into an international giant. The company agreed to acquire New Jersey-based Organon & Co. in an all-cash deal that marks one of India’s largest global takeovers and challenges Shanghvi to ...